Hellas Gold S.A. is a gold, silver, lead and zinc mining company headquartered in Athens, Greece. Since 2004, Hellas Gold operates the “Kassandra Mines” at N.E. Halkidiki, under the strictest EU safety and environmental standards and regulations. The Kassandra Mines consist of the operating mines at Mavres Petres-Stratoni and Olympias, and the Skouries project.
Evolving a mining history of 25 centuries, Hellas Gold invests in the development of sustainable mining in the region, contributing to the local economic growth and prosperity with investments of more than $1 billion, the employment of 1,600 people, the active support to the local suppliers, and important investments to local community initiatives and projects.
Under the guidance of Eldorado Gold Corporation
Since 2012, Hellas Gold operates as a subsidiary of the Canadian-based Eldorado Gold Corporation, which has over 25 years of experience in exploration, construction and operation of mines around the world.
The Kassandra Mines
The Kassandra Mines are located in northeast Halkidiki, within the administrative boundaries of the Municipality of Aristotle and include: the Olympias and Stratoni-Mavres Petra mines, which are in production, and the Skouries project.
Stratoni/Mavres Petres, in Madem Lakkou Stratoniou, is an underground silver, lead and zinc mine that started operating in the late 1950s and was reopened after being upgraded in 2006. It produces two concentrates: one containing lead-silver and one containing zinc.
Olympias is a previously-producing underground gold-silver-lead-zinc mine that was modernized by Hellas Gold and reopened in 2017. It produces three concentrates: lead/silver, zinc, and gold concentrates. The mine has a life span of approximately 22 years based on current proven and probable reserves
Skouries is a high-grade gold-copper porphyry deposit. The project is approximately 50% built and is currently under care and maintenance. The design of the project foresees a combination of surface and underground mining, and uses best available technologies to minimize the site’s footprint. Skouries has a life span of approximately 23 years and will produce a dore and gold-copper concentrate.
National & Local Economy
Mineral wealth has always been a source of prosperity for our country. Today, it can once again become an engine for economic recovery. This is confirmed by Hellenic Gold’s investments which exceed US$1 billion, employ 2,000 employees, actively support Greek suppliers and businesses, and make significant investments in local community initiatives and projects.
The investment of Hellas Gold until today
• US$1,2 billion invested into Greece
• € 892 million paid to Greek suppliers
• € 747 million generated in revenues from exports
• € 375 million generated in revenue for the Greek state
• € 273 million in salaries
With the Kassandra Mines in full operation and over the life of assets
• invest a further US$2 billion
• create 5,000 direct and indirect jobs
• boost government revenues by € 2.5 billion
• pay the Greek state over € 2 billion in salaries and $ 11.6 billion in exports
• introduce € 3.6 billion into the economy through payments to Greek contractors and suppliers
• invest € 80m in Corporate Social Responsibility projects for the local community
The safety of our people is a top priority
We ensure that every employee at our sites returns home safe. That’s why we apply the highest safety standards and safety management systems in accordance with the highest international standards.
• In 2017, we introduced the International Health and Safety Directive for everyone who enters our facilities.
• In 2018, Eldorado Gold implemented the Golden Rules, a health and safety handbook, across its global operations. The Handbook outlines leading safety practices and procedures.
• We have resources available to society to meet emergencies. The Hellas Gold mine rescue team is always on the alert and available to help local communities.
For Hellas Gold, responsible mining is synonymous with respect for the environment that hosts us. Our environmental policy is based on our continued effort to minimize our environmental footprint and is demonstrated by our:
• Environmental Monitoring Program
• Parallel Rehabilitation Practices
• Environmental Management Practices
Integrated Environmental Monitoring Program
We have designed and implemented one of the most comprehensive environmental monitoring programs in Europe, which monitors and records air, soil and water quality, noise, seismicity and ecosystems at 400 monitoring points, and is accessible to all through a dedicated online platform.
We design our projects using the “principle of parallel restoration”, that is, we begin restoring land to its former state when it is no longer needed for mining use.
• For this purpose, we have built a plant nursery. It covers an area of 150,000 sq.m. and lies on reclaimed land that used to be used for mining activity. There, we cultivate more than 400 species of local plants that are used in our restoration works.
• At Olympias, we are removing 2.6 million tonnes of mining residues from previous mining activity (1976-1995), while completing renovation of an area of 300 sqm is completed, with total cost exceeding € 100 million.
• In Stratoni, the restoration of the “Karakoli” area is now a case study used in environmental studies, as it illustrates the successful rehabilitation of a mining area. Thanks to these pilot projects the landscape in Halkidiki has been upgraded, new vegetation has grown and the local ecosystem has been restored.
Best Environmental Management Practices
We apply internationally best available environmental management practices such as:
• Dry deposition of mineral residues for safer and more environmentally-friendly storage with significant water savings and a 40% reduction in environmental footprint
• Backfill with reuse of materials in the mine
• Water recycling and water management
Find here the environmental practices implemented by Hellas Gold in NE Halkidiki, in full compliance with the highest worldwide standards of environmental management and how they come up to the key challenges of the mineral sector towards the core values of responsible, sustainable mining.
The key role of metals and minerals in the development of our civilized world defines the core of Hellas Gold campaign that gives voice to the minerals in order to unlock their roots. From ancient Greece to today, mining was leading in the development of our world. Today, sectors as medicine, technologies, and Green energy are connected to the mining sector, which paves the way for their development through modern, safe and environment friendly practices. Since 2004 Hellas Gold is inspired by the minerals history, evolving and advancing a 25 centuries mining history, generating value to the national and local economy, through the sustainable development of Kassandra Mines.
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