Mineral raw materials such as copper, lithium, cobalt and aluminum are valuable natural resources that are used as a raw material in almost everything around us.
They are necessary for the digital and green transformation, the development of renewable energy technologies, the promotion of electric mobility, etc. Everything is based on the adequacy and smooth supply of these critical and strategic raw materials.
The growing demand for these metals critical to the energy transition creates the right conditions for our country to establish itself as a new source of supply for European industry. This is because Greece has a subsoil rich in mineral resources, with a large percentage of this wealth located in NE Chalkidiki, where the value of the total reserves is estimated at 72 billion euros.
Specifically, one of the largest foreign direct investments in Greece is implemented in Kassandra Mineswhere Greek Gold invests in a strategically important project –the Skouria mining project– which will contribute decisively to national and European self-sufficiency in Mineral Raw Materials (RMR). Having now secured both the financing and the necessary permits, the Skourion project enters a construction completion phase lasting 2.5 years, so that in the second half of 2025 it will start its commercial operation.
During the construction project and for its needs, more than 800 jobs will be created, while heading towards the commercial operation of the mine, the employment positions which will be purely related to the mining activity will amount to 1,400 new, permanent and well-paid jobs which come to be added to the existing 1,500 that the company maintains to cover its current needs.
With the European WMD legislative initiative classifying copper as a strategic and critical metal, the importance of developing the Skouria project takes on another dimension, as the world-class copper and gold deposit Skouries has proven reserves of 740,000 tonnes of copper and 3.6 million ounces of gold. The total mine life is approximately 20 years and is projected to have an average annual production of 140,000 ounces of gold and 67 million pounds of copper. In practice, this means that it will significantly contribute to addressing the challenge created by the ever-increasing global demand for copper, even feeding the supply chain with reserves mined within European territory.
It is also worth noting that the project is designed with the highest design standards in terms of operation, safety and environmental management and through innovative technologies such as the Dry Deposit of Mining Tailings, the new Integrated Waste & Water Management System and Parallel Remediation, maximum environmental protection will be ensured with the lowest possible environmental footprint.
In its full development, Hellinikos Chrysos investment has the potential to make Greece 3rd gold producing country in Europe strengthening its geostrategic role within the European Union and further strengthening its export work, with multifaceted benefits both for the port of Thessaloniki – today it is the larger export container-, as well as local transport companies.
At the same time, it will unlock significant benefits for the country and the local community, as a result of it already made investment amounting to 1.3 billion dollars, but also the additional investments of 1.9 billion dollars that will contribute revenue for the Greek State about the 2 billion euros, commissions from Greek companies over 4 billion euroswhile during the life of the mine they will be invested 80 million dollars in local development projectswhich will be invested in a front-loading manner, in order to strengthen the local economy and the development of the region.
Source: Skai
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