The Canadian company Eldorado Gold was founded in 1991 and has since developed from a typical junior miner to one of the leading intermediate gold producers.
The mining company is currently mining gold on a large scale at four different sites. To this end, the company holds the necessary concessions for the exploration of further gold deposits in various countries around the world.
Eldorado Gold’s shares are now traded on numerous stock exchanges around the world. For example, on the stock exchanges in Frankfurt, Düsseldorf, Munich, Stuttgart and Berlin, on XETRA, as well as on the stock exchanges in Toronto, New York, the NYSE MKT, the stock exchange in Mexico and various other trading venues.
Gold production in Turkey, Greece and Canada
Founded in 1991, the Canadian company Eldorado Gold started as a junior miner with the exploration of gold deposits in Perama, Greece. In the meantime, the company has over 30 years of experience in the development of new deposits and also in the operation of the mines required for mining.
Meanwhile, Eldorado Gold is extracting gold at four different locations in Greece, Turkey and Canada. In Turkey, the company currently owns 100 percent of two mines, Kis¸ladag˘ and Efemçukuru Mine. The amount of gold produced there is nearly 80 percent of the total amount produced by Eldorado Gold.
In Greece, the company operates the Olympias and Stratoni mines. In 2017, Eldorado Gold also gained ownership of the Lamaque Gold Mine through the acquisition of junior miner Integra Gold, where the company recovered gold for the first time in 2018.
Expansion of gold production volume planned
In Turkey, Eldorado Gold is committed to maintaining the highest environmental and safety standards in gold mining at the Company’s Kis¸ladag˘ and Efemçukuru mines. As a result, the amount of gold mined in the past will be significantly reduced in the future.
In order to compensate for the lower production volume and at the same time still increase the company’s total gold production volume in the future, Eldorado Gold is aiming for various countermeasures.
At the Kis¸ladag˘ and Efemçukuru mines, for example, heap leach times are to be significantly extended. Heap leach is a chemical dissolution process used to extract the gold from the ore. By extending heap leach times, Eldorado Gold calculates that gold recovery can be increased from 40 percent to nearly 60 percent.
For the mining operation this means that the stockpile capacities have to be expanded accordingly, but due to the significantly higher gold yield this measure should be well worthwhile for Eldorado Gold.
In addition to the conversions at the mines in Turkey, the mines in Greece and Canada are also to be further expanded, so that higher gold production can also be expected there in the next few years.