Hellas Gold: 2023, a milestone year for sustainable development and prosperity in NE Halkidiki
07.03.24
Hellas Gold, committed to responsible and sustainable mining activities in NE Halkidiki, consistently promotes practices that respect the environment and contribute to the development and prosperity of the local communities in the Municipality of Aristotle.
2023 was another year where the company demonstrated its continuous dedication to sustainable development through the implementation of 146 Corporate Social Responsibility (CSR) projects and initiatives, totaling €1.73 million. Notably, 80% of this expenditure, amounting to €1.4 million, was directed towards projects exclusively within the boundaries of the Municipality of Aristotle.
Creating New Economic Development Opportunities
The company undertook infrastructure projects, including significant interventions to develop local communities, such as the restoration of the road network on the first kilometer from Neochori to Olympias, paving two roads in the Megali Panagia Community, and maintaining agricultural roads in the Panagia Municipal Unit. These efforts facilitate the economic activities of the region. Additionally, to highlight the area's cultural heritage, studies were completed for the renovation of the “Alexis Zorbas House” in Paleochori and for constructing a pedestrian bridge in Aristotle Park in Stagira. Progress was also made on studies for licensing a diving park in the seahorse colony and the reef of Brostomitsa in Stratoni. These actions incurred a total cost of €350,000.
Contributing to Social Welfare & Citizen Health
Aiming to protect public health, quality of life, and daily living conditions in the Municipality, Hellas Gold implemented numerous actions, such as donating 600 trash bins to the Municipality of Aristotle, covering study costs for expanding the “Agapi” Foundation’s nursing home in Arnaia, donating equipment to the Paleochori Health Center, and providing iron removal filters for drinking water to the Pyrgadikia community. These investments totaled €226,000.
Investing in Education and Supporting the New Generation
Hellas Gold's actions in education were significant again in 2023, surpassing €300,000. Major initiatives included the continuation of the successful robotics & STEM program for the area's students in collaboration with Eduact for the sixth consecutive year, funding the construction and operation of the second nursery school in Ierissos, and repairing school buildings in the Municipality of Aristotle, along with donating new computers where needed. Additionally, the company continues to offer scholarships to Anatolia College.
Caring for the Environment
Environmental stewardship and adaptation to climate change remained a major focus of Hellas Gold's social investments in 2023. Emphasizing support for areas affected by disasters, Hellas Gold donated to the State Aid Account of the Ministry of Climate Crisis and Civil Protection. The company also cleaned the Municipality of Aristotle beaches prior to the start of the tourist season, supported the Thessaloniki Aeroclub for aerial forest surveillance, and collected bulky waste from the Municipality’s communities to prevent fire hazards and pollution. Moreover, safety railings were installed at the Argyros stream in Stratoni. These projects exceeded €165,000.
Promoting Transparency and Accountability
Hellas Gold has long encouraged local community participation through open and honest dialogue. In 2023, the company opened a new permanent Public Information Center in Paleochori, serving as a communication hub. Additionally, the Community of Interest Committee held regular meetings for information exchange, and a Reporting Mechanism allows stakeholders to raise concerns about the company’s activities.
In 2023, Hellas Gold also held extensive consultations with the local community to co-create CSR goals and strategies, aiming for the optimal allocation of the €80 million committed over 25 years for social projects, ensuring the effective addressing of local needs and further development.
Additional Benefits to the Municipality of Aristotle
Aside from the aforementioned social investments, the Municipality of Aristotle received an additional €3.5 million in mining fees, given that the mining activity is conducted exclusively within its boundaries. With the state-of-the-art Skouries mine set to commence commercial production by late 2025 and the ongoing productivity increase at the Olympias mine, this annual revenue is expected to rise in the coming years, as it is directly tied to the value of sold metals.
About Hellas Gold
Hellas Gold is a mining company for gold, silver, lead, and zinc, headquartered in Athens. Since 2004, it has been responsibly and safely developing and operating the Kassandra Mines in NE Halkidiki under the strictest environmental terms. The Kassandra Mines consist of three mining projects: the Stratoni-Mavres Petres Mine, the Olympias Mine, and the Skouries Project. Continuing a 25-century mining history, Hellas Gold invests in the sustainable development of the Kassandra Mines, boosting economic growth and contributing to the prosperity of the local community with investments exceeding $1 billion, employing 1,900 workers, actively supporting local suppliers, and making significant investments in local community support initiatives and projects. Since 2012, it operates as a subsidiary of Eldorado Gold Corporation, a Canadian mining company with long-term experience in the exploration, development, and operation of mines worldwide.
For more information:
Erika Xirouchaki, Director of Communications & Corporate Affairs Greece, 214-6870000, Erika.Xirouchaki@eldoradogold.com
