Eldorado Gold has produced its first copper-gold concentrate at the Skouries Project in northern Greece, marking a major milestone as the development moves from construction into operations.
The first concentrate was produced on 8 September during the ongoing commissioning and ramp-up of the processing plant. Commercial production is expected to begin in the fourth quarter of 2026.
From Construction to Operations
The milestone follows the introduction of first ore to the crusher in July and the successful commissioning of several key processing systems.
Crushing, grinding, flotation and tailings thickening circuits are now operating, representing significant progress towards full production at one of Europe’s major copper-gold projects.
Eldorado Gold currently has more than 4.6 million tonnes of ore above reserve grade in stockpile. The company says this provides a strong foundation for the ramp-up, supporting more than seven months of planned processing throughput and concentrate production.
Temporary on-site power generation is currently supporting early operations while the project awaits connection to the national power grid. Final inspections, testing and metering installation are expected to be completed in September.
A Major European Copper-Gold Project
Skouries is expected to become a significant contributor to Eldorado Gold’s future production profile, with average annual output over the life of the mine forecast at approximately 140,000 ounces of gold and 67 million pounds of copper.
The project is also being positioned as an important investment in Greece and a strategically significant development for Europe’s supply of critical minerals.
Eldorado Gold CEO George Burns described the production of first concentrate as a defining moment for the company, highlighting the years of development and construction behind the project and the partnerships involved with the Greek government, banks, local communities, employees and other stakeholders.
Building a More Diversified Business
For Eldorado Gold, Skouries represents more than the start of a new operation. The company expects the project, alongside its McIlvenna Bay development in Saskatchewan, to strengthen its position as a more diversified producer of precious metals and critical minerals.
The company anticipates that increased exposure to copper and silver, alongside gold production, will contribute to a stronger production base and enhanced free cash flow generation.
The progress at Skouries therefore comes at an important point for Eldorado as it expands its portfolio across Canada, Türkiye and Greece.
Looking Towards Commercial Production
With first concentrate now produced, attention turns to the continued ramp-up of the processing plant ahead of the expected start of commercial production in the fourth quarter.
The successful commissioning of the major processing circuits represents a significant step forward for the project and brings Eldorado Gold closer to establishing Skouries as a long-term source of gold and copper.
For Greece, the project also represents a major investment in the country’s mining sector, with the potential to deliver economic value and support local communities over the life of the operation.
Image source: Eldorado Gold Corporation via GlobeNewswire
Additional images: Eldorado Gold Corporation, September 2026 Project Progress
Source: Eldorado Gold Corporation
Image: Eldorado Gold Corporation