In recent years, the European Commission has committed itself to achieving sustainable development in Europe and around the world, setting specific targets for which action is taken in cooperation with all Member States and using all available tools.
Sustainable development is an integrated approach that includes complementary economic, social and environmental dimensions. There is widespread discussion in Greece about the need for a new production model that will pave the way for the country’s economic and social recovery in line with European standards.
Greece has a big stake in investing in renewable energy, strengthening the economy and producing (mining) critical minerals that will drive the transition to a greener future.
Much of the country’s natural mineral wealth (gold mine) was transferred to Hellenic Gold, which operates the Kassandra mines in the northeast of Chalkidiki.
The concern recently signed an updated investment agreement with the Greek government, which is expected to bring significant benefits to the national economy and the environment, as well as improve the quality of life of the local community.
Modern mining facilities in Olympia
With the new agreement, the company supports the long-term sustainable development of the country through the responsible use of natural resources and additional investments for a more complete development of mines and an increase in the production of the most important mineral raw materials – gold, copper, silver, lead and zinc.
Taking into account the export orientation of the extracted raw materials over the next 25 years, according to forecasts, the total profit will reach 11.3 billion euros, which will help reduce the country’s balance of payments deficit.
However, in addition to the financial aspects of the new contract, a key priority is of particular importance, which is nothing more than the protection and continuous restoration of the environment by reducing the impact on it and using the best available modern technological practices and methods.
Environmental restoration project
In particular, the new investment plan provides for:
Reducing the environmental impact of the project in Skouries by 40%, thanks to the advanced technology for the safe storage of mineral residues. The reduced volume, which they will occupy after drying and compression, will drastically reduce the occupied area from 2 places, which were originally provided, to 1. Reconstruction of the territory of the Kokkinolakka depot with an additional capacity of more than 3 million square meters. in a single protected area for the safe disposal of mineral residues. Integrated wastewater and water management system, with the construction of a new wastewater treatment plant at a cost of over 130 million. Flood protection for all facilities. Management of noise and dust pollution of the air using specialized systems. Continuous 24/7 monitoring of all environmental parameters in and around mining operations using our award-winning environmental tracking system.
As highlighted, under the new investment agreement, Hellenic Gold is taking the initiative and commitment to continue to support the local community in the north-eastern region of Halkidiki through a token investment of € 70 million in social welfare and development projects.