Hellas Gold: Steady progress for the Skouries project

The strategically important gold and copper project in Skouries, NE Halkidiki, implemented by Hellas Gold, is progressing steadily and on schedule. With a current investment of 1.06 billion dollars and an average annual production of 140,000 ounces of gold and 67 million pounds of copper, it is one of the largest Foreign Direct Investments in Greece. At the same time, it aspires to place the country on the international map of raw materials, critical for the development of technologies related to the energy transition, as well as the digital transformation, the development of data centers and artificial intelligence technologies.

The overall construction progress was 86% at the end of the third quarter of 2025, demonstrating the efficiency and consistency in the execution of the investment program. The total capital invested in the Skouries project during the third quarter of 2025 amounted to $137.7 million, while cumulatively in the first nine months of the year, $338.6 million was invested.

The first production of gold-copper concentrate remains scheduled for the first quarter of 2026, with the start of commercial production to follow in the middle of the same year. You can follow the progress of the construction works at Skouries, through the video below:

Of the individual facilities of the project, the interest is focused on the ore processing unit, the primary crusher, the sedimentation tanks and the integrated waste management unit. The rate of progress of underground development is accelerating, with an average of 400 meters per month.

You can follow the progress of the construction of the tailings dehumidification facility, which is one of the largest of its kind, through the following time-lapse video:

Skouries currently employs around 2,000 people, while in total, Hellas Gold's human resources (direct and contracted) exceed 3,500 employees, with 14.2% of them being women.

With the start of production in Skouries in 2026, Greece will acquire a new source of strategic raw materials, strengthening its production base, extroversion and position in the European mineral raw materials market.