Hellas Gold: Investment in sustainable development is a strategic priority

The transition to a sustainable ESG (Environment – Society – Governance) future is now a one-way street in the strategy of modern business in the new “green” era that is taking shape.

Hellenic Gold, consistent with the principles of Responsible Mining (Responsible Mining), since 2004, develops and operates the Kassandra Mines in Northeast Halkidiki under the strictest framework of environmental management and safety, with the absolute priority of the local communities that host them.

Having created a comprehensive strategy for sustainable development, which incorporates the ESG criteria in all its activities, Hellenic Gold focuses on creating value in the three fundamental pillars: society, economy and environment.

To date, the company’s investments exceed $ 1 billion, while it is the largest employer in the region, employing more than 1,000 direct and 600 indirect employees, with 84% coming from the Municipality of Aristotle.

At the same time, it returned 394 million euros to the state, while supplies (from Greek companies) amounted to 1 billion euros.

In terms of social investments, since 2012 more than 24 million euros have been invested for the benefit of the Municipality of Aristotle and the wider area of ​​Northeastern Halkidiki.


By the side of the local community

In collaboration with the Municipal Authority, Hellenic Gold undertook the implementation of important infrastructure projects, such as the restoration of the Olympiada-Barbara road axis (worth over 300,000 euros) which suffered severe damage in the severe bad weather of 2020.

At the same time, great importance was given to the support of the local system of primary health for which Hellenic Gold covered the costs of staffing the Community Clinics in Stratoni and Olympiada, an action worth 50,000 euros.

Investing in the future, the company proceeded with the renovation and upgrade of 7 school facilities in the area, the installation of water filtration system in all schools of the Municipality of Aristotle, while for the 4th year implemented the innovative Robotics program in collaboration with Eduact, which cultivates students skills and knowledge, an investment of 90,000 euros.

According to the Sustainable Development Report 2019-2020, Hellenic Gold allocated a total of 6% of its net profits to social investments, which is one of the highest percentages of social investment in the wider industry.

Read the Corporate Responsibility Report 2019-2020

Hellas Gold continued in 2021 its investments in social and environmental projects in the Municipality of Aristotle, implementing projects and actions of social responsibility with a total value of 1.3 million euros.

Environment is a priority

These include the completion of another part of the extensive environmental rehabilitation program, which he has been working on for a number of years, to clear land from mining uses of previous properties. In this context, he handed over to the local community a new natural area of ​​30 acres that for decades was a place of arsenic deposition with a negative impact on the local environment.

In addition, he donated a garbage truck to the Municipality of Aristotle, while covering part of the expenses for logistical equipment for the cleaning services of the municipality, while he also took care of the safe collection of stray animals by donating a suitable vehicle, worth 45,000 euros.

Finally, in collaboration with the New Aeroclub of Thessaloniki, the aerial surveillance of the forests of the area continued throughout the firefighting period, while it also stood next to the fire-affected areas of Attica, with a total support of 30,000 euros.


Innovative environmental programs

Adhering to its commitments for sustainable development, the company is implementing a series of programs for the protection of the environment.

In particular, the Award-winning Environmental Monitoring Program is one of the most comprehensive online and publicly accessible programs in Europe. The program monitors and records data on air, soil and water quality, acoustic environment and noise, etc., at more than 400 checkpoints, posting the results on a specially accessible online platform.

It also implements the Environmental Management Best Practices Program, which utilizes, among other things, dry-storage technology, which offers significant environmental benefits, such as reducing the environmental footprint, saving water and increasing safety against geotechnical hazards.

Social investment program worth 70 million euros

It is worth noting that Hellenic Gold will continue in the same direction in the future, as under the New Investment Agreement it plans investments of around 70 million euros in social welfare and local development projects, always in collaboration with the local community.


Corporate governance

As a member of the international mining group Eldorado Gold, listed on two of the largest stock exchanges in the world, New York and Canada, Corporate Governance is a matter of paramount importance to the company.

Through a series of standards, the implementation of the Integrated Sustainability Management System (SIMS) in all aspects of the company’s activity guides its overall operation towards the achievement of the individual goals of sustainable development. The result of SIMS is the compliance of all business processes with standards that incorporate industry best practices internationally.

What the investment plan provides

Hellas Gold’s new investment plan envisages the creation of 3,000 jobs during the development course, contributing decisively to the reduction of the unemployment rate in Northern Greece. In fact, the 1,000 new positions are estimated to be added during the first year of construction work in Skouries.

In addition, government revenues are expected to reach 2 billion euros through taxes, salaries and mining fees, while 3.5 billion are expected to be directed to Greek companies through supplies of goods and services, which will supply additional value to the domestic market. boosting turnover and employment for partner suppliers.