Eldorado Gold Produces First Concentrate at Skouries
Eldorado Gold has produced its first copper-gold concentrate at the Skouries project in northern Greece, marking a critical transition from construction to operational status. The site is targeting commercial production in the fourth quarter of 2026.
Eldorado Gold has produced its first copper-gold concentrate at the Skouries project in northern Greece. This milestone moves the site from the construction phase towards operational status. The company confirmed that the initial concentrate resulted from commissioning and ramp-up activity at the processing plant. This followed the first delivery of ore to the crusher in July 2026.
Key components of the process plant have been successfully commissioned. These include crushing, grinding, flotation, and tailings thickening circuits. The current ore stockpile contains more than 4.6 million tonnes above reserve grade. This volume supports over seven months of processing and concentrate output during the ramp-up period.
Operational Targets and Production Forecasts
Eldorado Gold aims to transition to commercial production in the fourth quarter of 2026. The company forecasts that Skouries will yield an average of 140,000 ounces of gold annually. It also expects to produce 67 million pounds of copper each year over the life of the mine. This output is designed to strengthen the company's production base and free cash flow generation.
CEO George Burns described the event as a defining moment for the company. He stated that Skouries represents the culmination of years of development and partnership. The asset is considered one of the most significant investments in Greece. It is also one of Europe's largest copper-gold projects.
Infrastructure and Power Grid Connection
Work to commission other infrastructure has progressed, with several process systems now operational. Temporary power is currently used to support early-stage operations. The project awaits connection to the national power grid. This connection depends on final inspections, equipment installation, and testing by the Greek transmission authority.
Eldorado Gold expects the grid connection to occur in September 2026. The company also produced its initial copper concentrate from the McIlvenna Bay Project in Canada in June 2026. Together, these sites are expected to transform Eldorado into a larger, more diversified producer. The combined operations will enhance exposure to precious metals and critical minerals. As reported by GN markets/commodities (en-US), this expansion solidifies the firm's position in the global mining sector.
