Eldorado’s Skouries mine wins EU strategic status

The copper-gold mine is among the 46 selected for faster permitting and funding to strengthen the EU domestic supply chain.

The post Eldorado’s Skouries mine wins EU strategic status appeared first on Canadian Mining Journal .

The European Commission granted strategic status to Eldorado Gold’s (TSX: ELD, NYSE: EGO) Skouries copper-gold mine in Greece, , positioning one of Europe’s largest new mining projects for faster permitting and improved access to financing as it ramps up production.

The designation, the Canadian miner announced on Oct.

9, places Skouries among 46 projects selected under the EU’s Critical Raw Materials Act (CRMA).

The backing comes as the EU looks to strengthen its domestic supply chain of critical metals and enhance long-term supply, breaking free from its reliance on China for them.

Copper is included in the list as it is essential for Europe’s electrification, manufacturing, and the energy transition.

“As one of the largest new copper-gold mines in Europe, Skouries is positioned to support the secure and responsible supply of critical raw materials that are essential to economic growth, industrial competitiveness and the energy transition,” Eldorado president and CEO Christian Milau said.

“This recognition highlights the strategic significance of the project and the important role it can play in strengthening Europe’s long-term supply chain resilience.” Skouries is among 46 projects selected by the EU that will benefit from faster permitting and help in bidding for public and private funding, not immediately receiving funding from the commission.

Shares in Eldorado Gold were down 3.03% to C$52.09 ($36.62) apiece on Tuesday morning in Toronto, valuing the company at C$13.6 billion ($9.5 billion).

The European Commission granted strategic status to Eldorado Gold’s (TSX: ELD, NYSE: EGO) Skouries copper-gold mine in Greece, , positioning one of Europe’s largest new mining projects for faster permitting and improved access to financing as it ramps up production.

The designation, the Canadian miner announced on Oct.

9, places Skouries among 46 projects selected under the EU’s Critical Raw Materials Act (CRMA).

The backing comes as the EU looks to strengthen its domestic supply chain of critical metals and enhance long-term supply, breaking free from its reliance on China for them.

Copper is included in the list as it is essential for Europe’s electrification, manufacturing, and the energy transition.

“As one of the largest new copper-gold mines in Europe, Skouries is positioned to support the secure and responsible supply of critical raw materials that are essential to economic growth, industrial competitiveness and the energy transition,” Eldorado president and CEO Christian Milau said.

“This recognition highlights the strategic significance of the project and the important role it can play in strengthening Europe’s long-term supply chain resilience.” Skouries is among 46 projects selected by the EU that will benefit from faster permitting and help in bidding for public and private funding, not immediately receiving funding from the commission.

Shares in Eldorado Gold were down 3.03% to C$52.09 ($36.62) apiece on Tuesday morning in Toronto, valuing the company at C$13.6 billion ($9.5 billion).

Located in the Halkidiki region of northern Greece, the mine represents more than $2 billion in investment and is designed to operate for 20 years, supporting jobs and economic activity in the region.

Skouries recently produced its first copper-gold concentrate, looking to start commercial production by the end of 2026.