Skouries Mine

COPPER-GOLD MINE

A project of perspective for Greece.
A landmark project for Europe

The new copper-gold Skouries mine is a project of national and European significance, serving as a powerful driver of growth for Greece and the local communities. It supports thousands of jobs, contributes directly to the regional economy, and strengthens public revenues and the country’s export capacity.

Additionally, it positions Greece as a key link in Europe’s value chain and supports greater autonomy in strategic raw materials such as copper. Through advanced technologies and high standards of environmental management, Skouries is laying the foundations for responsible, long-term mining, creating sustainable value for the region and the country.

Our work, moving forward

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A landmark investment

The Skouries copper-gold mine, part of the Kassandra Mines, is located on Halkidiki peninsula in northern Greece. This copper-gold porphyry deposit is mined using a combination of surface and underground mining, with a commitment to operating in consideration of leading environmental and social practices.

Based on the 2021 Feasibility Study, the initial life of the mine is approximately 20 years, and it is expected to produce on average 140,000 ounces of gold and 67 million pounds of copper per year.

Download the Skouries Mine brochure PDF

Key Facts

LOCATION

NE Halkidiki

TYPE/PROCESSING METHOD

Open pit & underground

EXPECTED MINE LIFE

20 years

DEPOSIT TYPE

Copper-gold porphyry

Copper
Cu
Copper

Av. annual copper production

67 million pounds
Gold
Au
Gold

Av. annual gold production

140,000 ounces

The investment with Skouries at full production:

investment US$3 billion
investment
direct & indirect jobs ~3000
direct & indirect jobs
state revenue* €3 billion
state revenue*
exports* €17.5 billion
exports*
social investment US$80 million
social investment
Greek suppliers & employees* €8.7 billion
Greek suppliers & employees*
mining royalties for local communities* €509 million
mining royalties for local communities*

*Metal prices assumed (USD): Gold $3,000/oz, Silver $30/oz, Copper $4.50/lb, Lead $0.93/lb Zinc $1.18/lb

A landmark project for Europe’s resilience

The new Skouries mine places copper at the heart of Europe’s energy and digital transition. Essential to power grids, renewable energy, electric mobility, digital infrastructure and advanced industrial applications, copper is one of the most important strategic raw materials for the future. Gold, with its wide-ranging uses in technology and industry, further strengthens the mine's strategic value and helps position northeastern Halkidiki as an important mining centre.

As demand continues to grow, Europe is seeking to strengthen domestic production and reduce its dependence on third countries. Initiatives such as the Critical Raw Materials Act (CRMA) and ReSourceEU highlight the need to support investment in strategic mining projects within the EU. More broadly, the European framework for critical raw materials recognises the importance of developing new strategic projects, increasing recycling capacity and diversifying sources of supply.

In this changing environment, Skouries world-class copper-gold deposit takes on particular significance, creating a new European source of supply, strengthening the resilience of the value chain and connecting Greece’s mineral resources with the evolving needs of European industry.

The role of copper in the energy and digital transition

Sustainable processes and technologies

The Skouries mine is fully digital and incorporates international best practices across exploration, mining, health and safety, and environmental management. These include the Integrated Extractive Waste & Water Management Facility, filtered tailings, paste backfill (backfilling tunnels with mining tailings), parallel rehabilitation, and a comprehensive environmental monitoring system.

The modern mining model implemented across the Kassandra Mines combines remote mining technologies and advanced automation systems with the expertise of a highly skilled workforce.

A 5G network enables real-time monitoring of operations and workflows, while supporting a wide range of underground applications. From the fully integrated, state-of-the-art surface Control Centre, remote blasting and mucking operations are carried out, contributing to the mine’s efficient operation.

Additionally, drones equipped with advanced scanning technology enable fully autonomous mapping of underground workings without requiring an operator to enter the field, enhancing safety while delivering faster data collection and greater accuracy.

SUSTAINABLE ENVIRONMENTAL DESIGN

Integrated Water Management System

System for controlled diversion

  • Clean surface water is safely diverted through dedicated channels, allowing it to follow its natural flow towards the Karolakkas stream and the Gulf of Ierissos.
  • Water that may have come into contact with mining activities is not diverted. Instead, it is collected and directed to the water treatment plant, where it is monitored and treated before being safely returned to the environment.

Pre-draining and re-injecting of clean water

  • Pre-draining and re-injecting of clean water into the aquifer through a closed pipeline network
  • Effective managed aquifer recharge within a separate hydrogeological zone.
  • Significant reduction in the volume of water requiring treatment.
  • Groundwater levels are monitored through a network of piezometers, confirming no impact on nearby communities or water abstraction points.
  • Water is collected, centrally stored and fully treated at the Water Treatment Plant.
  • Closed-loop water system at the processing plant.
  • Reduced freshwater consumption through optimal circular water use.

Integrated Extractive Waste Facility

During mining, ore is crushed, ground and processed to separate valuable minerals from the surrounding rock. The residual leftover rock and water from this process is called tailings.

Traditionally, tailings were stored in liquid form in large facilities, known as tailings ponds. Modern filtered tailings remove the excess water resulting in a sandy material which is then stacked and compressed. Less space is required for its storage into tailings management facility areas (TMF).

At Skouries, a single TMF is sufficient, replacing the two facilities envisaged in the initial design that would have been necessary under traditional liquid tailings management. This reduces the overall storage footprint by 40% and enables progressive rehabilitation alongside mining activities. As a result, the area can be fully restored and ready to be returned to the local community immediately after mining operations are completed.

Benefits of filtered tailings

Geotechnical stability

Up to 90% of the water is removed from the tailings using filtration. These solids are then conveyed and compacted within the storage facility to form a geotechnically stable solid, improving safety and stability and mitigating geotechnical risks.

Recycled water

Dry stack technology helps water to be recycled and reused in the production cycle, which minimizes the consumption of fresh water.

Smaller area occupied for tailings

Use of only one downstream embankment rather than two originally planned, resulting in 40% reduction in the environmental footprint compared to the initial design, thus an area of 486,000 square meters at the Lotsanikos basin remaining undisturbed.

Benefits of dry-stack tailings

 

SKOURIES

Virtual tour of our copper-gold asset

SKOURIES MINE GALLERY

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MINING PROJECTS

Olympias Mining Facilities

The state-of-the-art mining facilities at Olympias accommodate the underground gold, silver, lead and zinc mine of Hellas Gold. At the facilities of Olympias, we have created a privately-owned plant nursery inside an old tailings site. There, we are growing over 1 million plants to be used in environmental rehabilitation projects in the area.

Explore Olympias