The transition to a zero-emissions economy, the shift to electrification and renewable energy sources, as well as the leaps and bounds in artificial intelligence, have spurred demand for critical mineral raw materials such as copper, lithium, and more. This favorable situation creates important opportunities for Greece, as our country is developing one of the few investments in new mining of critical and strategic mineral raw materials in the whole of Europe.
This is the project of Ellinikos Chrysos in Skouries, in the Municipality of Aristoteli, Halkidiki, which is one of the most ambitious investment projects of the last decades in the country. Beyond its economic dimension, the project has generated intense interest in the future of the Greek mining industry, its relationship with the environment and its contribution to the European supply chain.
Because of the significant confirmed reserves that make it one world class copper and gold deposit, as well an important new source of European supply but and the global market with critical raw materials like copper, Skouria’s project will play a key role in Europe’s energy transition, making Greece a major mining center internationally.
According to the latest available data, around 144 million dollars have been invested in the project in the first half of 2024 alone, with its overall progress reaching 76%, while the earthworks and construction works have progressed significantly, which overall are progressing according to schedule . The company’s goal is for the mine to begin commercial operation in the second half of 2025.
The project has the potential to transform the Greek economy by creating new employment opportunities and contributing to the achievement of the goals of the green energy transition. Already, the construction phase of the project has created more than 1,000 new jobswhile the company employs a total of more than 2,000 workers. This number is expected to increase significantly, when the positions related to the construction of the Skourion project will gradually be added to those related to the operation of the new state-of-the-art mine.
At the same time, the adoption of advanced technologies and strict environmental standards make the project a good example of applying sustainable mining practices. The know-how gained from the Skourion project can be transferred to other mining activities in the country, positively affecting the industry as a whole.
It is worth noting that the investment of Hellinikons Chrysos, in its full development, can make Greece the 3rd largest gold producing country in Europe, strengthening its geostrategic role within the European Union. In addition, it will develop a outward-facing production activity with a value expected to exceed 11 billion euroscreating multiple economic and social benefits at national and local level. Hellinikon Chrysos is already the largest exporter of the port of Thessaloniki, an activity which, with the commercial operation of Skouria, is expected to more than double.
End, through the $80 million social investment programthe Greek Gold is committed to strategic development projects and actions that will be implemented over a period of 25 years and will contribute to the long-term development of the Municipality of Aristotlecreating a future of prosperity and development for the region.
Source: Skai
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