Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) announced on September 8, 2026, that it has produced first copper-gold concentrate at its wholly owned Skouries Project in northern Greece, marking a pivotal transition from construction to operations. The milestone was achieved as part of ongoing commissioning and ramp-up of the processing plant, following the introduction of first ore to the crusher in July. Commercial production remains on track for the fourth quarter of 2026, a development investors in the gold and copper mining sector may be closely watching.

Key Points

  • Eldorado Gold Corporation (TSX: ELD, NYSE: EGO) announced first copper-gold concentrate at its Skouries Project in Greece.
  • First concentrate was produced on September 8, 2026, during commissioning and ramp-up of the processing plant.
  • The ore stockpile currently exceeds 4.6 million tonnes above reserve grade, representing more than seven months of processing throughput.
  • Investors will be watching for confirmation of commercial production, expected in Q4 2026, and connection to the national power grid, expected in September 2026.

Skouries Processing Plant Commissioning Reaches Key Threshold

The first concentrate at Skouries was produced on September 8, 2026, with crushing, grinding, flotation, tailings thickening, and concentrate thickening systems all reported to be operating successfully. The announcement states that the current ore stockpile exceeds 4.6 million tonnes above reserve grade, providing what the company describes as a strong foundation for ramp-up and underpinning more than seven months of processing throughput. Temporary on-site power generation is currently supporting early operations, with connection to Greece's national power grid subject to final inspections and expected in September 2026.

Skouries Life-of-Mine Production Targets and Strategic Significance

According to the release, Skouries is expected to produce an average of 140,000 ounces of gold and 67 million pounds of copper annually over the life of mine. Eldorado describes the project as one of Europe's most significant copper-gold investments. CEO George Burns stated in the announcement that Skouries, together with the McIlvenna Bay project in Saskatchewan, is expected to transform Eldorado into a larger, more diversified precious metals and critical minerals producer with enhanced free cash flow generation, meaningful copper and silver exposure, and a stronger production base.

Partnership With Greek Government and Path to Commercial Production

The release highlights the role of partnerships with the Greek government, local banks, communities, and the workforce in reaching this milestone. The company characterises Skouries as one of the most significant investments in Greece. Commercial production is expected to be achieved in Q4 2026, though the announcement notes that grid connection remains subject to final inspections, testing, and installation of metering equipment by the Greek transmission authority. The company did not disclose specific timelines beyond the September 2026 grid connection expectation. The immediate share price impact was not clear from available public information.