Asset report

Olympias gold mine project

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Report summary

A three-phase development programme has been adopted to allow refurbishment and construction of required infrastructure. Phase I from 2012 to 2016 involved tailings treatment and refurbishment to the underground mine. Phase II (2017-2025) will be underground mining at a rate of 400kt/a with annual average gold production of 85koz. The final products will be separate Pb/Ag, Zn and AsPyAu concentrates. Phase III from 2025 up to at least 2040 consists of underground mining, initially around the existing shaft and other infrastructure. Production will ramp up progressively to 800kt/a through the expansion of underground infrastructure, which includes a new 8.5km decline from the base of the Olympias deposit for conveying the ore to a new centralised concentrator in the Stratoni Valley.

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    Olympias Project gold mine

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