Eldorado Gold Corp. received electromechanical installation permits for its Skouries project and an installation permit for its Olympias mine from the Greek Ministry of Energy and Environment.
For Skouries, the permits allow for the installation of mechanical and electrical equipment at the flotation plant to be completed as well as the installation of additional surface facilities. Receipt of these permits will enable the company to apply for the flotation plant building permit, which will be submitted this month. Eldorado said it intends to carry out construction activities that were suspended in 2017, including building the mill enclosure once permitted, to protect the plant assets.
The Olympias permit allows for installation of an upgraded electrical substation and construction of support facilities, which will be considered as part of Eldorado’s annual planning process.
Eldorado is working with the Greek government to achieve the necessary conditions required to restart full construction at the Skouries Project. These include a stable regulatory framework and assurances that provide appropriate foreign direct investor protection and dispute resolution as well as regulatory approval for subsequent permits and technical studies.
“We are very pleased with the receipt of these long-awaited permits, which enable us to protect our existing investment,” said George Burns, president and CEO of Eldorado Gold. “We are greatly encouraged with the engagement we’ve had to date with the Greek State and look forward to working constructively with the relevant ministries.”
The ministry and the company are collaborating on a mutually acceptable path forward to build safe, modern, world-class operations in Greece, including approval to implement dry stack tailings at Skouries. This best-available technology would reduce the project’s environmental footprint by approximately 40% and decrease the site’s water consumption.
Skouries is a high-grade gold-copper porphyry project that is partially constructed and currently in care and maintenance. Skouries is expected to operate for approximately 23 years based on current reserves, initially as an open pit and underground mine, followed by underground mining only.
