- Business
- Eldorado Gold Corporation engages in the mining, exploration, development, and sale of gold and base metals primarily in Turkiye, Canada, and Greece. The company operates four producing mines, including the Kisladag open-pit heap leach gold mine in Usak Province, western Turkiye; the Efemcukuru high-grade underground gold mine in Izmir Province, western Turkiye; the Lamaque Complex underground gold mines in Val-d'Or, Quebec, Canada, encompassing the Triangle, Ormaque, Parallel, and Plug #4 deposits along with the Sigma Mill; and the Olympias underground polymetallic mine in the Halkidiki Peninsula, northern Greece, which produces gold doré bars and concentrates of lead-silver, zinc, and precious metals. Eldorado Gold also advances the Skouries copper-gold development project in Greece and holds early-stage exploration assets such as the Bruell Gold Project in Quebec. Incorporated in 1992 and headquartered in Vancouver, British Columbia, Canada, the company generates revenue through the sale of gold doré bars to global refiners and bullion banks, as well as silver, lead, and zinc concentrates to smelters and commodity traders.
In recent developments, Eldorado Gold reported a 5% increase in overall mineral reserves as of late 2025, driven by a 25% uplift at the Lamaque Complex through resource conversion at Ormaque and Lower Triangle, alongside gains at Kisladag and Olympias from optimized modeling and higher gold price assumptions; inferred resources rose nearly 21% from new discoveries like the Sulf Zone at Lamaque Hill in Greece and Bonnefond near Lamaque. The company continues advancing construction at the Skouries project to 73% completion as of Q3 2025, with revised 2025 capital investments of $440-$470 million to accelerate non-critical path work and de-risking, targeting progressive commissioning in the second half of 2026; major equipment including Vertimill, flotation cells, and thickeners has been delivered. Additional strategic moves include a Q1 2025 sale of G Mining Ventures shares boosting cash position, ongoing investments in Lamaque's Ormaque development and North Basin water facility, and a modernization program at Olympias encompassing process plant upgrades, infrastructure improvements, and workforce skills development.