Christos Balaskas, Vice President of Commercial, Growth and External Relations (Greece) of Eldorado Gold and President of Hellenic Gold, highlighted that Greece is set to rank among the top three countries in the European Union for gold and copper production by the end of 2026. This would significantly help fill the supply gap within the EU for these critical metals, which are increasingly important in various industries.

At the Olympiada mine, Greece is already producing gold, silver, zinc, and lead, with an annual output of 60,000 ounces of gold. The commencement of production at the Skouries mine later this year is expected to add another 140,000 ounces of gold and 30,000 tons of copper to the country’s production capacity. This increased output represents a strategic step for Greece in establishing itself as a key player in the European minerals market.

Balaskas also pointed out the soaring prices of these metals, with gold prices recently surpassing $5,000 per ounce, reflecting the growing global demand. Alongside gold, the price surge of copper signals a robust market for these resources, enhancing Greece's prospects of becoming a significant contributor to the European Union's supply of crucial materials, essential for various sectors including technology and renewable energy.