Eldorado Gold

What Eldorado Gold does

Eldorado Gold Corporation is a Canadian mid-tier precious and base metals producer incorporated in 1992 and listed on the NYSE (EGO) and TSX (ELD). The company operates four producing mines across three jurisdictions: the Lamaque Complex (underground gold in Val-d'Or, Quebec), Olympias (gold-silver-lead-zinc underground mine in northern Greece), Efemçukuru (underground gold in western Türkiye), and Kışladağ (open-pit heap-leach gold in western Türkiye). Eldorado employs approximately 8,000 people including contractors and reported 488,268 ounces of gold production at the higher end of 2025 guidance, generating $1.82 billion in FY2025 revenue (+38% YoY) and $532.4 million in Q1 2026 revenue (+50% YoY).

The company's technology base is built around conventional mineral processing flowsheets: heap leaching at Kışladağ, flotation circuits at Efemçukuru, Olympias, and McIlvenna Bay, and filtered (dry-stack) tailings management that removes up to 90% of water and reduces environmental footprint by up to 40%. Eldorado is also piloting battery-electric haul trucks at Lamaque, which have demonstrated approximately 40% productivity improvements in uphill ramp cycles. The company holds 12.5 million ounces of Proven and Probable gold reserves and 17.4 million ounces of Measured and Indicated resources, and is recognized as a sustainability leader with multiple ISO certifications, TSM Gold Leadership Awards at Lamaque, and inclusion in Corporate Knights' Best 50 Corporate Citizens in Canada.

Eldorado's revenue model is that of a price-taker in global commodity markets: gold pricing is set by the LBMA, copper by the LME, and concentrates are sold under offtake agreements to refiners, smelters, and commodity trading houses. The growth pipeline consists of two fully-financed development projects—Skouries (copper-gold in Greece, commercial production Q4 2026) and the recently acquired McIlvenna Bay (copper-zinc-gold-silver in Saskatchewan, first concentrate June 2026, commercial production Q3 2026)—plus the Perama Hill gold-silver project advancing through permitting. Eldorado projects 640,000-740,000 ounces of gold production by 2028, a 41% increase over 2025 levels.

Name

Eldorado Gold

Legal name

Eldorado Gold Corporation

Website

https://eldoradogold.com

Company type

Public

Founded year

1992

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Eldorado Gold is a Canadian mid-tier gold and base metals producer operating four mines in Canada, Greece, and Türkiye, with a growth pipeline of two fully-financed development projects (Skouries and McIlvenna Bay) approaching commercial production in 2026 and a copper-zinc exposure added via the 2026 Foran Mining acquisition.

Ownership category

akta.pro rank

Product category

Gold Mining

NAICS

Gold Ore and Silver Ore Mining (212220), Copper, Nickel, Lead, and Zinc Mining (21223)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Copper Ore Mining (Open-Pit & Underground) (IMAKADAB), Silver Mining (IMAKAEAB)

Keywords

• Gold mining
• Copper production
• Mineral extraction
• Mining operations
• Precious metals

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Gold Production and Sales: Primary revenue stream from mining and selling gold produced at four operating mines (Lamaque Complex in Canada, Olympias and Efemcukuru in Greece, Kisladag in Turkey). Revenue is driven by gold ounces produced multiplied by realized gold prices.
2. Copper Production and Sales: Secondary revenue stream from copper production at Skouries project in Greece and McIlvenna Bay project in Canada. Copper is sold as concentrate to smelters and refiners.
3. By-product Metals (Silver, Lead, Zinc): Olympias produces silver, lead, and zinc as by-products. Stratoni produces silver, lead, and zinc. These are sold to generate additional revenue.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Eldorado Gold is a mid-tier gold and base metals producer that operates mining, development, and exploration assets across Canada, Greece, and Türkiye. The company's primary revenue comes from producing and selling gold doré bars and copper concentrates from its operating mines, with by-product metals (silver, lead, zinc) generated at Olympias and Stratoni. Revenue is generated by ounces of metal produced multiplied by realized commodity prices (LBMA for gold, LME for copper).

Product overview

Eldorado Gold is a Canadian mid-tier gold and base metals producer with mining, development and exploration operations in Canada, Greece, and Türkiye. The company operates four producing mines: Lamaque Complex (underground gold in Canada), Olympias (gold-silver-lead-zinc in Greece), Efemçukuru (underground gold in Türkiye), and Kışladağ (open pit heap leach gold in Türkiye). The portfolio includes three major growth projects: Skouries (copper-gold in Greece), Perama Hill (gold-silver in Greece), and McIlvenna Bay (copper-zinc-gold-silver in Canada). Eldorado produces gold, copper, silver, zinc, and lead, with approximately 488,000 ounces of gold production in 2025 and a target of 640,000-740,000 ounces by 2028 as growth projects reach commercial production.

Differentiator

Problem solved

Functional benefit

Products and services

• Lamaque Complex Underground gold mine located in Val-d'Or, Quebec, Canada. Has produced over one million ounces of gold since 2019. Includes Triangle mine (upper and lower zones), Ormaque mine, Parallel deposit, Plug #4 deposit, and Sigma Mill processing facility. Uses battery-electric haul trucks that demonstrated approximately 40% productivity improvements in uphill ramp cycles.
• Olympias Gold-silver-lead-zinc underground mine located on the Halkidiki Peninsula in northern Greece. A gold-rich polymetallic carbonate replacement deposit producing gold doré plus by-product silver, lead, and zinc. Uses filtered tailings management.
• Efemçukuru High-grade underground gold mine located in Izmir Province in western Türkiye. Uses a flotation circuit to produce gold concentrate. Commercial production commenced in June 2011.
• Kışladağ Low-grade, bulk-tonnage open pit heap leach gold mine located in Usak Province in western Türkiye. One of the largest gold mines in Türkiye using heap leach extraction technology.
• Skouries Project Copper-gold porphyry deposit located on the Halkidiki Peninsula in northern Greece. Will be mined using a combination of conventional open pit and underground techniques. Expected to produce 140,000 ounces of gold and 67 million pounds of copper annually with 20-year mine life. Uses filtered tailings technology.
• McIlvenna Bay Underground copper-zinc-gold-silver project located in east-central Saskatchewan, Canada. Initial mine life of 18 years expected to produce 41 million pounds copper, 20,000 ounces gold, 444,000 ounces silver, and 54 million pounds zinc annually. Acquired through Foran Mining Corporation acquisition completed April 14, 2026.
• Perama Hill Epithermal gold-silver deposit located in the Thrace region of northern Greece. Envisioned as a small open pit mine using conventional carbon in leach (CIL) circuit for gold recovery. Environmental Impact Assessment submitted December 2025.
• Stratoni Underground silver-lead-zinc mine located on the Halkidiki Peninsula in northern Greece. Operations were suspended in Q4 2021 and put into care and maintenance in 2022. Currently non-producing but maintains infrastructure for potential restart.

Quantifiable outcome

• 41% gold production growth by 2028 compared to 2025 levels
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core and minor.

• G Mining ServicescoreImplementation/ SI/ Consulting Partner · 25 March 2026Strategic project alliance through Memorandum of Understanding for engineering and construction services supporting project delivery across Eldorado's portfolio including Perama Hill, Lamaque Complex, Skouries, Olympias, and McIlvenna Bay projects. Aims to enhance project readiness, delivery certainty, and capital efficiency.
• Peter Ballantyne Cree NationcoreStrategic or Co-development PartnerPartnership with Indigenous community for the McIlvenna Bay project development. Eldorado intends to develop the site into a central mining camp working with the Peter Ballantyne Cree Nation, reflecting commitment to Indigenous engagement and benefit-sharing.
• Arctic Gateway GroupminorStrategic or Co-development PartnerPartnership for shipping concentrate from McIlvenna Bay mine via Hudson Bay Railway's Flin Flon subdivision. Supports logistics and export of copper and zinc concentrates from the McIlvenna Bay project.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Agnico Eagle Mines: Canadian senior gold producer with a diversified multi-mine portfolio across Canada, Australia, Finland, and Mexico. Closely comparable to Eldorado as a Canadian-listed, multi-jurisdiction gold operator with significant underground production.
• Kinross Gold: Canadian mid-tier gold producer with operations in the Americas, West Africa, and (historically) Russia/Türkiye. Directly comparable to Eldorado as a mid-cap, multi-mine gold producer with exposure to similar emerging-market country risk.
• Centerra Gold: Canadian mid-tier gold miner with operating mines in Canada, Türkiye (Mount Milligan and formerly Öksüt), and a former Kyrgyz operation. Direct peer given Canadian base, Türkiye operating overlap, and comparable mid-tier production scale.
• IAMGOLD: Canadian mid-tier gold producer with operating mines in Canada (Côté Lake), Burkina Faso, and Suriname. Comparable as a Canadian-headquartered, multi-jurisdiction gold miner of similar size focused on growth-stage production.
• Equinox Gold: Canadian gold producer built largely through acquisitions, with operations across the Americas (Mexico, Brazil, US, Canada). Closely comparable to Eldorado as a Canadian mid-tier gold miner pursuing growth through M&A, with CEO/President Christian Milau joining Eldorado from Equinox Gold.
• B2Gold: Canadian mid-tier gold producer with operations in Mali, Namibia, and the Philippines plus a growth project in Colombia. Comparable to Eldorado as a Canadian-listed, multi-jurisdiction mid-tier gold miner with growth project pipeline.
• Alamos Gold: Canadian mid-tier gold producer with mines in Canada (Young-Davidson, Island Gold) and Mexico (Mulatos). Direct peer given Canadian base, multi-mine underground/open-pit profile, and similar growth-by-acquisition trajectory.
• New Gold: Canadian mid-tier gold-copper producer with operating mines in Canada (Rainy River) and British Columbia (New Afton). Comparable to Eldorado given Canadian base, mixed gold-copper production, and similar mid-cap market profile.
• Endeavour Mining: Senior West Africa-focused gold producer with multiple operating mines and a strong growth pipeline. Comparable to Eldorado as a multi-mine gold producer with an active growth and acquisition strategy; CFO Paul Ferneyhough's prior role at Endeavour reinforces the operational comparability.
• OceanaGold: Mid-tier gold and copper producer with operations in the Philippines, New Zealand, and the United States. Comparable to Eldorado as a multi-jurisdiction gold and base-metals miner with mixed open-pit and underground operations.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/1231040
• Xx.com/Eldorado_Gold
• Facebookfacebook.com/EldoradoGoldCorp

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Subsidiaries3 records

Funding overview

Funding rounds4 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A10 records

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Eldorado Gold