Eldorado Gold begins Skouries commissioning, targets 2026 output
Eldorado Gold has processed its first ore at the Skouries project in Greece, bringing the long-awaited copper-gold mine a step closer to generating revenue in 2026.
Eldorado Gold has commenced commissioning at its Skouries copper-gold project in northern Greece, successfully processing initial ore through the crushing circuit. The milestone confirms that front-end processing systems are operating as designed during the final stages of construction.
Investors are now looking toward 2026 for the mine to impact the company's balance sheet. Eldorado targets the production of copper-gold concentrate in the third quarter of 2026, with commercial production slated for the final quarter of that year. Hitting these timelines will depend on the successful execution of integrated commissioning, the site ramp-up, and securing full-site energisation.
The power supply represents a residual risk to this schedule. All 12 transmission towers and conductors have been installed following an eight-hour power outage to facilitate the final tower placement, and substation testing is finished. However, full energisation remains contingent on a final inspection and sign-off by the Greek power authority. To prevent grid dependency from stalling progress, Eldorado has deployed supplemental generators to support commissioning and plant activities in the interim.
Importantly, the mining side of the operation is outpacing plant readiness, eliminating early feed risks. Open-pit mining is ahead of schedule, resulting in a run-of-mine stockpile of roughly 3.4 million tonnes. Including underground ore, the total stockpile stands at approximately 3.9 million tonnes. This inventory is expected to fully supply the processing plant through 2026, supporting both the commissioning phase and the first full year of commercial output.
Operationally, wet and dry commissioning is advancing across grinding, flotation, concentrate handling, and tailings management circuits. Systems are transferring in stages from the construction crew to the combined commissioning and operations team.
"Crushing first ore is an important milestone for Skouries and reflects the steady, safe progress being made by our team as the project moves through the final stages of construction and staged commissioning," CEO George Burns said. "While final site energisation remains subject to final inspection and sign-off by the Greek power authority, we are taking proactive steps to maintain momentum, including adding the supplemental generators to support commissioning readiness and activities within the process plant."
The advancement at Skouries arrives alongside broader operational momentum for Eldorado. Last month, the company produced its initial copper concentrate from its wholly owned McIlvenna Bay project in Saskatchewan, Canada.
