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“Metalleia Thraki” participated in the development conference ET Forum, organized by the newspaper Eleftheros Typos in Alexandroupoli (11/06/2025). The company’s General Manager, Mr. Leonidas Bakouras, participated as a speaker in the panel discussion titled:
“Economy, Entrepreneurship, and Financial Instruments – Showcasing a New, Innovative, and Sustainable Model of Development for the Region of Eastern Macedonia and Thrace (EMT), through the Primary Sector, Tourism, Culture, and Development Infrastructure.”

Also participating in the panel were Mr. Nikos Papathanasis, Deputy Minister of National Economy and Finance; Mr. Georgios Broufas, Vice Rector of Innovation at Democritus University of Thrace (DUTH); and Mr. Georgios Koumparakis, Chief Commercial Officer of the Mesogeios Group.

Responding to questions posed by the panel moderator, Mr. Giannis Tsaprounis, Mr. Bakouras emphasized the urgent need for genuine regional development in Greece—particularly in border regions such as Thrace. Citing relevant studies, he pointed out that Northern Greece sits atop a mineral wealth valued at €71 billion.

Referring to the current activities of “Thracean Mining,” Mr. Bakouras noted that the Environmental Impact Study (EIS) for the Perama project is currently in preparation, stating:

“More than 40 university professors are working on it through collaborations we have established with academic institutions and universities throughout Greece.”

Regarding these academic partnerships, he added:

“Our goal is for the Perama project to be backed by the scientific credibility and technical integrity of the academic community—above all, by the sensitivity they bring when working for the advancement of both Thrace and Greece as a whole.”

Financial Data from the Kassandra Mines

“Thracean Mining” operates as a subsidiary of Eldorado Gold, a Canadian company that has already invested over €3 billion in the Kassandra Mines located in Halkidiki.

Sharing key figures from the operation, Mr. Bakouras stated:

• “Eldorado Gold currently employs 2,500 workers in Halkidiki, a number expected to increase to 3,000 with full development of the Kassandre Mines by 2026.
• To date, the company has paid over €500 million in taxes and more than €1.5 billion to local suppliers.
• The Municipality of Aristotelis has received approximately €18 million in mining royalties over the past four years.”

He also referred to a published study by IOBE (Foundation for Economic and Industrial Research), which clearly indicates that over the next 20 years (2024–2044), the Kassandre Mines will significantly contribute to public revenue, the regional GDP of Central Macedonia, and the local economy of the broader Halkidiki area.

According to Mr. Bakouras, similar figures could apply to Thrace in a few years, provided that the Perama mine becomes operational. Naturally, a prerequisite for this is the submission and approval of the Environmental Impact Assessment, which will serve as “the mirror of the project—detailing all environmental and economic aspects.”

The company aims to complete the Environmental Impact Assessment within the designated timeline, so that it may form the basis for a structured dialogue with the local community, conducted through public consultation and founded on accurate, up-to-date data—not figures from 2001 or 2011.

Mr. Bakouras expressed optimism about the quality of the study, citing Eldorado Gold’s unwavering adherence to environmental laws and regulations, as well as the exceptional scientific competence of the university professionals involved.

Eldorado Gold, along with its Greek subsidiaries, Hellas Gold and Thrace Minerals, participated in the 10th Delphi Economic Forum, held from April 9 to 12. During the event, senior executives represented us in key discussions and targeted interviews focused on investments, the economy, and the sustainable development of the mining sector.

George Burns, President & CEO, Eldorado Gold

At the 10th Delphi Economic Forum, discussions focused on global geoeconomic developments and their impact on the mining industry, with special emphasis on Eldorado Gold’s investment in Greece. Eldorado Gold President and CEO, George Burns, highlighted the role of trade tariffs, political uncertainty, and geopolitical tensions in driving up costs and reshaping the global strategy for critical raw materials. He emphasized Greece’s potential as a country with rich but largely untapped mineral resources, citing the Olympias, Skouries, and Perama Hill projects as examples of sustainable development with significant economic and social value.
George Burns underlined the importance of faster permitting procedures, leveraging the EU’s Critical Raw Materials Act, and adopting innovative technologies like artificial intelligence and electrification to improve efficiency and safety in mining operations. He reaffirmed Eldorado Gold’s long-term commitment to Greece, expressing optimism for the country’s ability to attract further investment through public tenders and exploration licensing. Ultimately, he positioned Greece as a future hub for responsible mining and a strategic player in Europe’s evolving raw materials value chain.

Leonidas Bakouras, General Manager, Thracean Mining

Leonidas Bakouras stated that Greece has a unique opportunity to become one of Europe’s largest gold producers through the development of the Perama Hill gold deposit in Thrace. Eldorado Gold’s investment in the Skouries project already signals strong confidence in the country’s untapped mineral wealth. The investment in Perama is expected to significantly boost regional development, substantially increasing the local GDP, generating considerable annual revenues for the Greek State as well as for all involved municipalities, while also contributing to the reversal of population decline in the Thrace region.

Environmental studies are currently underway in collaboration with leading Greek universities, with the aim of submitting the new environmental terms by the end of 2025 and securing approval in the first half of 2026.
In his interview with Naftemporiki, Leonidas Bakouras stressed that Greece could become one of the leading gold-producing countries in Europe if the investment in Perama Hill proceeds, the environmental study of which is already underway, aiming for approval by 2026.

Christos Balaskas, President, Hellas Gold

Christos Balaskas focused on geopolitical developments, the impact of trade wars, and investment opportunities in mineral resources. Mr. Balaskas highlighted the strategic value of projects like Skouries as a blueprint for sustainable mining and regional development. Challenges related to permitting and the need for more efficient regulatory processes were addressed, along with the importance of social license to operate and transparency. Technological advancements — including artificial intelligence and electric equipment — were also discussed as key drivers of innovation in the European mining industry.
In his interview with CNN Greece, Mr. Balaskas emphasized the importance of Eldorado Gold’s investment in the Kassandra Mines, stressing the need to utilize Greece’s mineral wealth and establish a stable institutional framework to attract foreign investments. He noted that Greece can help reduce European dependence on critical raw materials, particularly in metals like gold and copper.

Thracean Mining extends its warmest thanks to Geologist Dimitra Nikolaidou for her long-standing and valuable contribution to the company’s course and work.

With professionalism, consistency, and scientific expertise, she made a substantial contribution to the development of important activities and was an exceptionally valued member of the team throughout all these years.

We wholeheartedly wish her every success in her next professional and personal steps, along with good health and continued success in the future path of her career.