Eldorado Gold says new Skouries mine plan lowers environmental footprint

|About: Eldorado Gold Corporation (EGO)|By:, SA News Editor

Eldorado Gold (NYSE:EGO) files a new technical report for its Skouries gold mine project in Greece that says it “significantly” reduces the development’s environmental footprint.

The report updates a 2011 plan with what EGO says are industry-best practices for management of wastewater and tailings.

EGO's report estimates a cost of $689M to build the mine, which contains 3.77M oz. of gold reserves and 779M lbs. of copper, and projects a 21% after-tax internal rate of return, a net present value of $925M and a 23-year operation plan.