Greece and Eldorado, the country’s biggest foreign investor, inked a new investment contract in early 2021 that has allow the company to move forward with Skouries.
The agreement provided enhanced fiscal revenues, environmental benefits, and support for local communities in the form of job creation and local projects.
It also paved the way for the reception of the miner’s long-awaited permit for the use of dry stack tailings disposal at Skouries.
Eldorado has since focused on resuming construction at the mine, which has reserves of 3.7 million ounces of gold and 1.7 billion pounds of copper.
The company also completed a new feasibility study for the project, which calls for an open pit and underground mining operation with average production of 140,000 ounces of gold and 67 million pounds of copper a year over a 20-year mine life.
Capital costs are pegged at $845 million, 23% higher than the $689.2 million previously…
