As the European Union adjusts its strategy against the geopolitical and technological challenges of the time, access to critical raw materials emerges in a critical field of strategy and investment. The acceleration of energy transition, the development of RES and storage technologies, as well as the promoted strengthening of the European Defense Industry, are exponentially increasing the demand for minerals and rare land, often coming from high geopolitical areas.
Among the raw materials at the center of this strategic priority, the copper He holds a key position. As a basic material for electricity networks, renewable energy sources and electric vehicles, its demand is expected to grow constantly in the coming years, with The International Energy Forum (2024) to appreciate that it will need to be extracted 115% More copper over the next 30 years compared to all the copper that has been mining to date. According to the report Global Critical Minerals Outlook 2025 of the International Energy Organization (IEA), the current investment potential internationally is not sufficient to meet future needs, with a potential deficit of up to 30% in bid by 2035.
At the same time European Commission acknowledges that the production of copper and other critical metals is highly concentrated in a few, specific countries and, through Critical Raw Materials ACTthe European Union seeks to strengthen its self -sufficiency in critical raw materials, such as copper.
Within this context, Greece has an advantage to be exploited: important mineral wealth which can support Europe’s self -sufficiency.
Eldorado Gold’s subsidiaries in Greece, Hellenic Gold and Thrace Mines, have developed an investment planning that places Greece at the core of this European effort. The investment in Skouries, coupled with the already active production in the Olympics, is expected to bring Greece among the leading copper and gold producers in Europe, while the planned gold-Argiros project in Perama Evros further enhances this momentum.
It is worth noting that the predicted annual copper production In Skouries rises to about 67 million poundswhile the deposit includes confirmed stocks of the class of 779,000 tonnes of copper. These sizes make the project crucial to strengthen European self -sufficiency in critical raw materials.
The activity is not limited to mining, but is a lever for diffusion of value in society through responsible practices. Investing in Kassandra Mines exceeds $ 3 billion and is employed by more than 3.300 workers -Most of the residents of the local communities-creating an important footprint in the national and local economy. According to the recent study of Economic and Industrial Research Foundation (IOBE)its contribution to GDP amounts to EUR 550 million a year, and supports the creation of about 8,600 direct and indirect jobs over a depth of 20 years.
The overall contribution of the projects of Hellenic Gold and Thrace Mines confirms that such investments have not only business but also strategic importance. At a time when Europe is seeking to reduce its dependencies and enhance its internal durability, Greece has the ability to play a key role. And the utilization of the wealth mineral, in terms of viability and technological superiority, can be one of the most critical chapters of this effort.
*The Greek subsidiaries of Eldorado Gold participate in the 89th Thessaloniki International Exhibition with a common kiosk (Pavillion 10, Stand 10), where visitors will have the opportunity to be informed by Hellenic Gold and Thrace Mines about the strategy and projects of companies.
Source: Skai
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