Greece enters European copper market

Greece’s mineral-rich subsoil, together with the pivotal relation of manufacture arsenic a cardinal pillar of growth, competitiveness and resilience for the Greek system successful an situation of heightened geopolitical and vigor challenges was highlighted astatine the Delphi Economic Forum XI.

As Christos Balaskas, Chairman of Hellenic Gold and Vice President, Commercial, Growth & External Relations astatine Eldorado Gold, noted during the Forum, “beyond overseas nonstop investment, Greece needs industry. If we truly want to turn the page, we request industry.” He stressed that Eldorado Gold, done its concern successful Greek golden since 2012, is demonstrating a vote of assurance successful the country’s concern base. The Skouries task is 1 of the astir important concern projects successful Greece and marks the sector’s transition to a caller phase, arsenic it evolves from a large operation task into a mature accumulation concern with tangible economical output, with accumulation acceptable to statesman successful 2026.

Hellenic Gold and Critical Raw Materials

Balaskas underlined that the Skouries task places Greece connected the representation of copper producers, strengthening its strategic position, while the start of accumulation successful 2026 is expected to make a important caller source of supply for the European market. It contributes to supply security, reinforces “Made successful EU” accumulation and responds to planetary contention from the U.S. and China. At the aforesaid time, the improvement of the Kassandra Mines is helping signifier a broader mining ecosystem that combines investment, expertise and a highly skilled workforce, enhancing Greece’s relation arsenic a reliable shaper of strategic metals. He emphasized that the value of the concern is further reinforced successful the evolving European landscape, peculiarly pursuing the adoption of the Critical Raw Materials Act and the EU’s request to trim its dependence connected third countries for captious earthy materials indispensable to industry, the greenish transition, the automotive assemblage and integer infrastructure.

However, helium stressed that unlocking these opportunities mostly depends connected the stability of the regulatory framework. Demand for copper is rising rapidly, driving the request for caller projects, arsenic it is simply a cardinal worldly for vigor networks, renewables, electromobility and integer infrastructure, making it captious to the planetary economy’s vigor and technological transition. The EU consumes astir 25% of captious metals but produces lone astir 3%, remaining heavy reliant connected imports.

As Balaskas noted, this is simply a broad concern successful the Kassandra Mines successful Halkidiki, where metallic and gold, arsenic well arsenic pb and zinc, are already produced, while golden and copper ore accumulation from the Skouries excavation is expected to commence by year-end. He added that the task presently employs astir 4,300 people, a important proportionality of whom are engaged successful processing the caller mine. Over a 23-year horizon, exports are estimated to scope 2.2 cardinal dollars, generating astatine slightest 500 cardinal successful revenues for the Greek state. In addition, astir 80 cardinal has already been committed to firm κοινωνικά work initiatives, with a important multiplier effect. At afloat capacity, accumulation is expected to scope astir 67 cardinal pounds of copper and 140,000 ounces of golden annually, substantially strengthening the country’s concern basal and export orientation. Overall, the Skouries task acts arsenic a strong improvement multiplier, with a affirmative interaction connected some the nationalist system and determination improvement successful bluish Greece.

Significant copper reserves successful Greece – New geological findings

Speaking to Naftemporiki, Christos Balaskas noted that “the concern successful Skouries has a substantial economical footprint, extending crossed Northern Greece and peculiarly the Municipality of Aristotelis. In 2025 alone, €563 cardinal from the Skouries concern was allocated to services and materials sourced from Greek suppliers nationwide. Of this amount, €130 cardinal was directed to Central Macedonia, while suppliers successful the Municipality of Aristotelis unsocial benefited by €26 million. As you tin understand, the economical interaction of the concern is important and tin pave the way for akin investments.”

Focusing connected copper accumulation and Greece’s upgraded relation successful the supply of this captious metal, Balaskas added that “copper request successful Europe is expected to double, reaching adjacent to 45 cardinal tonnes. Copper is emerging arsenic the caller strategic metal, beyond gold, which serves a antithetic purpose. There are important copper reserves successful Greece, and this will unfastened the way for different companies susceptible of investing, helping Europe trim its dependence connected imports of captious metals from China and different countries.”