With the exploitation of the country’s mineral wealth now prominently in the spotlight, due to the new conditions created by global demand for critical raw materials as well as sustainability challenges, Metalleia Thrakis is planning the creation of a modern gold and silver mine in Perama, Evros. The investment will exceed 400 million euros and, according to the company, will be accompanied by strict adherence to environmental legislation. The company’s General Manager, Leonidas Bakouras, speaks to “P” about the prospects of the project, its contribution to the local and national economy, and the process of dialogue with the local community.
Mr. Bakouras, in recent times, the discussion around minerals and the exploitation of mineral wealth has been at the forefront of public debate. What do you believe are the factors that bring these issues so dynamically onto the public agenda?
“Global developments are what bring the utilization of minerals to the forefront, since, as is well known, mineral raw materials are essential for the advancement of Science, the Economy, and Culture. At the same time, however, the need for their proper use is part of the discussion, as sustainability is a priority. Today, both in Greece and in Europe, we have a legal framework with environmental protection as its central axis, but which also sets clear rules for mining so that it is completely safe for the environment and people.
In Greece, we are fortunate to have a major national asset—our mineral wealth—which we can use for the benefit of both local communities and the national economy as a whole. Naturally, the exploitation of mineral wealth is a serious process which, apart from the legal framework, also requires investment entities capable of applying all modern mining practices, demonstrating full compliance with environmental legislation, and having a clear orientation towards sustainability.
Such an investor is certainly Eldorado Gold, which is the main shareholder of Metalleia Thrakis.”
What does your investment plan for Northern Greece include, and in what stage is the Perama investment specifically?
“In Perama, Evros, we are planning a modern mine for the extraction and processing of gold and silver. It is important that the project bears the signature of Eldorado Gold, the main shareholder of Metalleia Thrakis. Eldorado Gold has proven credentials in Greece and worldwide, as it strictly complies with environmental legislation, incorporates all technological advancements into its investment plans, and operates with environmental and human protection in mind.
For the Perama project in particular, we are currently in the stage of preparing the Environmental Impact Study (EIS). For the EIS we are working with almost all Greek universities and many academic institutions, precisely because we want to submit a scientifically sound study, fully consistent with the environmental legislation of Greece and the EU. We estimate that it will be completed by the end of the year and then submitted to the relevant ministry.”
What is the estimated economic contribution of the investment, both in terms of jobs and in local or national revenue?
“First of all, I should note that in the very near future the exact economic assessment of the project will be completed, so we will be able to provide more detailed data. However, we are definitely talking about an investment exceeding 400 million euros, which will create around 700 jobs in the region and will decisively contribute to increasing both local and national GDP.
This is also an investment with decades-long potential, making it a substantial development proposal for Thrace and Northern Greece overall. We already have the example of the Cassandra Mines in Halkidiki, where the local economy has been significantly boosted in various sectors. Moreover, according to a study by IOBE, in the next twenty years (2024–2044), the contribution of the Cassandra Mines to the national economy will be remarkable. Indicatively:
- Annual GDP increase of 550 million euros
- 200 million euros annually in state revenue
- 480 million euros in exports, accounting for 55% of Greece’s mineral exports and 2.1% of industrial exports.
It is important to understand that today mining projects have a developmental profile wherever they take place, as they do not affect other local activities and indirectly boost many sectors of local economies. And when we talk about regions such as Thrace—whose significance we all know, as well as its need to strengthen its development prospects—the value of the planned Perama project increases even more.”
However, experience—both in the case of Perama and in the case of Halkidiki—has shown that local communities often approach such investments with caution and skepticism. Aren’t such concerns, especially regarding environmental impact, reasonable?
“People who love their homeland worry and are concerned about its future, and that is absolutely logical and respectable. On the other hand, Metalleia Thrakis and our shareholder operate with absolute transparency, openness, and a willingness to engage in dialogue with both local communities and the scientific bodies that represent them.
Therefore, through discussion, dialogue, and consultation, we will listen to all concerns expressed and provide answers to all questions that arise in connection with our investment proposal. Of course, many answers will also be provided through the Environmental Impact Study, which, as we said, is being prepared. But even so, our willingness for dialogue remains undiminished.
After all, what we are bringing to Thrace is not just a mine. It is a multi-layered development proposal, which we want to discuss and ultimately co-shape with the people of Thrace—those who live, work, and want to stay and thrive in their homeland.”
