The History of the Kassandra Mines

CONTINUING A MINING TRADITION THAT SPANS 25 CENTURIES

From antiquity to Hellas Gold

With a rich mining history spanning 25 centuries, NE Halkidiki has been a center for exploration and mining since the 6th century BC. Building on this legacy, Hellas Gold, has been proudly continuing the region’s mining tradition since 2004 by developing and operating responsibly mining projects in Skouries, Olympias and Kokkinolakkas. Specifically, today, with total reserves of 160 tonnes of gold, more than 1 million tonnes of copper, 2,000 tonnes of silver, and 1.5 million tonnes of lead and zinc, the mining capacity of Halkidiki is among the largest in Europe and can transform Greece into one of the leading copper and gold producing countries in the world.

25 25 CENTURIES
MINES

Early classical antiquity (6th century BC)

Historical sources document the start of mining activities in the area. This is corroborated by the findings of the analysis tests carried out at the "skouries” (slags) within the area of the ancient kingdom of Macedonia.

Mining at NE Halkidiki in the Byzantine Empire and the Ottoman period

Mining activities continued through the Roman Empire. However, after the conquests and occupation of Spain's affluent gold and silver mines by the Romans, the mines in NE Halkidiki experienced a prolonged period of decline.

The area of "Siderocausa" in the Byzantine period

The exploitation of the mines in the area was resumed and the area of Siderocausa (commonly known as “Siderokapsa”) became a center for mining. This is today's Stratoniki, an area north of Isvoros.

“Mademohoria” villages in the early 15th century

The mines at NE Halkidiki experienced a new period of prosperity. About 500 - 600 furnaces were operating in the area, processing zinc and lead.

16th and 17th centuries

Once again, the region experienced alternating periods of prosperity and decline.

In 1705, the community of Mademohoria acquired the right to manage the silver mines with a firman issued by the Ottoman Sultan.

The Kassandra Mines, from 1893 to 1900

The name "Kassandra Mines" is first recorded in 1893 as a geographical designation originally given to the peninsula of Halkidiki by the state of Greece. The name persisted and continues to be used to this day.

In the same year, the region’s mining rights were granted from the Ottoman Empire to Franco-Ottoman S.A., which had its headquarters in Paris.

Until 1900, 72,000 tonnes of ore were mined and went through metallurgical processing.

Madem Lakkos, 1901

The open pit exploitation of the iron pyrite deposit at "Madem Lakkos" started in 1901 by the Franco-Ottoman company that managed the mines.

The Kassandra Mines mining center of Greece under the Hellenic Company of Chemical Products and Fertilizers, 1927

The Hellenic Company of Chemical Products and Fertilizers S.A. succeeded the Franco-Ottoman exploitation company in 1927. It foresaw the necessity of widely using fertilizers to develop agriculture in the country.

The Bodossakis era after the Second World War

The mining sector was given a new impetus when, after the Second World War, the majority of the shares of the Hellenic Fertilizers and Chemicals Company came under the ownership of Bodossakis Athanasiadis.

Stratoni, the center of mining activity, 1970

Stratoni became the focus of the company's mining activities. In the early 1970s, the Hellenic Company of Chemical Products and Fertilizers built an enrichment plant at the coast of Stratoni and started the production and processing of sulphide ore.

Mining operations at Olympias, 1972-1976

In 1972, the exploitation of the sulphide ore mine of Olympias begins. In 1976, the new enrichment plant at Olympias was constructed, and the mined products were transported for loading to Stratoni.

The Hellenic Company of Chemical Products and Fertilizers closed down in 1992

The Hellenic Company of Chemical Products and Fertilizers closed down in 1992, when placed in special liquidation by the National Bank of Greece.

The mines of Halkidiki under TVX HELLAS, 1995

In December 1995, the exploitation rights of the Kassandra Mines and the entire mining facilities were transferred to TVX Hellas, a subsidiary of the Canadian mining company TVX Gold. The primary purpose of the company was to establish a gold metallurgy center at Olympias and process sulphide ores at 'Mavres Petres'.

The freezing of the investment and the economic decline of NE Halkidiki, 2003

The investment in Olympias was frozen due to a negative resolution issued by the Council of State in March 2002. In December 2002, another negative resolution issued by the Council of State led to the suspension of operations at the Mavres Petres mine. In January 2003, all employees were suspended.

The Hellas Gold modern mines of NE Halkidiki, 2004

In January 2004, the mining rights, as well as the entire mining facilities of the Kassandra Mines were transferred to Hellas Gold S.A., with special law ratified by the Hellenic Parliament.

SUSTAINABILITY

Sustainability and Ecosystems

At Hellas Gold, we use internationally recognized practices and follow the highest standards across all aspects of our operations. We do this to ensure sustainable mining and respect our host communities and the environment.

Find out more about Sustainability

HELLAS GOLD

We mine responsibly and sustainably minerals, that are fundamental to human progress.

THE KASSANDRA MINES

We integrate international practices in technology, exploration and mining, safety and environmental protection.

SUSTAINABILITY

Our approach to responsible and sustainable mining.

HUMAN RESOURCES

We continue a mining tradition that spans 25 centuries in Greece, with people at the core of our business.

The History of the Kassandra Mines

CONTINUING A MINING TRADITION THAT SPANS 25 CENTURIES

From antiquity to Hellas Gold

25 25 CENTURIES MINES

Early classical antiquity (6th century BC)

Mining at NE Halkidiki in the Byzantine Empire and the Ottoman period

The area of "Siderocausa" in the Byzantine period

“Mademohoria” villages in the early 15th century

16th and 17th centuries

The Kassandra Mines, from 1893 to 1900

Madem Lakkos, 1901

The Kassandra Mines mining center of Greece under the Hellenic Company of Chemical Products and Fertilizers, 1927

The Bodossakis era after the Second World War

Stratoni, the center of mining activity, 1970

Mining operations at Olympias, 1972-1976

The Hellenic Company of Chemical Products and Fertilizers closed down in 1992

The mines of Halkidiki under TVX HELLAS, 1995

The freezing of the investment and the economic decline of NE Halkidiki, 2003

The Hellas Gold modern mines of NE Halkidiki, 2004

SUSTAINABILITY

Sustainability and Ecosystems

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25 25 CENTURIES
MINES