Eldorado Gold has produced its first copper-gold concentrate at the Skouries Project in northern Greece, moving the site from the construction phase towards operational status.
The project is aiming to transition to commercial production in the fourth quarter of 2026 (Q4 2026).
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The company confirmed that the initial concentrate was produced as part of commissioning and ramp-up activity at the processing plant.
This follows the first delivery of ore to the crusher in July 2026.
According to Eldorado Gold, key components of the process plant, including crushing, grinding, flotation and tailings thickening circuits, have been successfully commissioned.
The current ore stockpile contains more than 4.6 million tonnes above reserve grade, supporting over seven months of processing and concentrate output during the ramp-up period.
Eldorado Gold CEO George Burns said: “This is a defining moment for Eldorado. First concentrate at Skouries represents the culmination of years of development, construction and partnership and marks the beginning of a new chapter for our company.
“Skouries is not only a transformational asset for Eldorado but also one of the most significant investments in Greece and one of Europe’s largest copper-gold projects.
“Together with McIlvenna Bay in Saskatchewan, Skouries is expected to transform Eldorado into a larger, more diversified precious metals and critical minerals producer with a stronger production base, meaningful copper and silver exposure and enhanced free cash flow generation.”
Work to commission other infrastructure has also progressed, with several process systems now operational.
Temporary power is being used to support early stage operations while the project awaits connection to the national power grid.
This connection remains dependent on final inspections, equipment installation, and testing by the Greek transmission authority, and Eldorado Gold expects it to occur in September 2026.
Eldorado Gold forecasts that, over the life of the mine, Skouries will yield an average of 140,000oz of gold and 67 million pounds of copper each year.
In June 2026, the company produced the initial copper concentrate from its wholly owned McIlvenna Bay Project in east-central Saskatchewan, Canada.
