ENVIRONMENT

BUSINESS: 385 PRACTICES


TOPIC:

Initiative

Biodiversity

Biodiversity
SUBMITTED FROM:

Hellas Gold

Hellas Gold S.A. is a gold, silver, lead and zinc mining company headquartered in Athens, Greece.  Since 2004, Hellas Gold operates the “Kassandra Mines” assets at N.E. Halkidiki, under the strictest EU safety and environmental standards and regulations. The Kassandra Mines consist of the mining facilities of Olympias, Skouries project and the mining and port facilities of Mavres Petres-Stratoni.

Evolving a mining history of 25 centuries, Hellas Gold invests in the development of sustainable mining in the region, contributing to the local economic growth and prosperity with investments of more than $3 billion, the employment of more than 2,500 people, the active support to the local suppliers, and important investments to local community initiatives and projects

Since 2012, Hellas Gold operates as a subsidiary of the Canadian-based Eldorado Gold Corporation, a mining company which has more than 30 years of experience in exploration, construction, and operation of mines around the world.

www.hellas-gold.com 



Objective Action

Our Goal for Biodiversity

At Hellenic Gold, we recognize our responsibility to operate with respect for the natural environment and we are committed to protecting and enhancing the biodiversity of Northeastern Halkidiki.

Our goal:

No Net Loss and, where possible, Net Gain in biodiversity.

How we achieve this:

  • We integrate nature protection into every business decision we make.
  • We apply international standards and best practices, with emphasis on avoidance, minimization, restoration, and offsetting of impacts.
  • We implement restoration programs in historically impacted areas, both on our own land and beyond our project boundaries, creating new ecological benefits.
  • We protect critical habitats and species, while actively managing invasive alien plants.
  • We invest in modern environmental monitoring systems, in collaboration with local and international scientists.
  • We create value for local communities, demonstrating that mining activities can coexist with a healthy and resilient natural environment.
 

Target Audience

1. Institutional & Financial Stakeholders

  • International financiers (EBRD, IFC, banks) requiring compliance with strict standards (Performance Standard 6, PR6).
  • European & Greek Authorities (Ministry of Environment & Energy, EU, Natura 2000, Environmental Inspectors) overseeing adherence to legal obligations.

2. Local Communities & Society

  • Residents of Northeastern Halkidiki affected by operations.
  • Municipalities, regional authorities, local cooperatives (beekeepers, livestock farmers, foresters).

3. Scientific & Environmental Community

  • Universities, researchers, experts in forestry, flora, and fauna.
  • NGOs (e.g., focused on nature, forests, endangered species).

4. Corporate & Business Community

  • Suppliers, partners, other companies in the sector (national & international fora).
  • Investors monitoring ESG criteria.

Conclusion:

Helles Gold’s biodiversity goal is not one-dimensional. It is communicated technically and rigorously to financiers and authorities, socially to local communities, and strategically to investors and international fora.

 

Duration

Action Timeline

Short-term (1–3 years)

  • Intensification of core prevention measures (e.g., management of invasive species, protection of species/habitats).
  • Implementation of initial restoration works in legacy areas and company-owned land.
  • Establishment of a monitoring system (500 sites, ecological studies every three years).

Medium-term (3–10 years)

  • Gradual restoration of forest and wetland ecosystems within areas of influence.
  • Evaluation and update of the Biodiversity Offset Strategy (BOS) based on results.
  • Integration with infrastructure projects (e.g., completion of Skouries ~2025) and implementation of offsets at the corresponding scale.

Long-term (10+ years – mine life)

  • Continuous monitoring of ecological indicators.
  • Securing No Net Loss / Net Gain in biodiversity.
  • Completion of restoration works following mine closure (post-mining phase).

Description

Helles Gold’s Biodiversity Initiative

The initiative is founded on the need to ensure that the development of the Kassandra Mines goes hand in hand with the protection and enhancement of the natural environment. The approach follows the internationally recognized mitigation hierarchy: avoidance → minimization → restoration → offsetting of impacts.

Implementation is carried out in an integrated way:

  • Documentation through extensive biological surveys (plants, animals, ecosystems).
  • Impact assessment and identification of residual losses that cannot be avoided.
  • Biodiversity Offset Strategy (BOS), which includes:
  • Restoration of historically degraded areas (Legacy Areas).
  • Utilization of company-owned land with ecological recovery potential.
  • Off-site actions (e.g., removal of invasive pines, stream enhancement, restoration of burnt forests).
  • Ongoing monitoring via an extensive network of stations and periodic ecological studies.
  • Engagement with society and stakeholders, ensuring that local communities benefit from restoration and the protection of natural capital.

Innovative & Distinctive Features

  • Combination of compliance & voluntary action: separation into mandatory (gain type 1) and voluntary (gain type 2) measures, ensuring additional ecological benefits beyond legal requirements.
  • Multi-level offset strategy: Legacy Areas + Company-owned land + Off-site offsets on a scale of up to 200 km.
  • Use of new monitoring technologies: a network of 500+ monitoring points, real-time data, ecological studies every three years.
  • Focus on invasive species: systematic recording and action plans to control species such as Robinia pseudoacacia.
  • Innovative soil management techniques: specialized storage of topsoil, use of wood as a soil enhancer, hydroseeding for rapid restoration.
  • Link to social benefits: e.g., support for beekeeping, reduction of wildfires and floods through ecological restoration.
  • International alignment: compliance with IFC, EBRD, World Gold Council, GRI, and initiatives such as BBOP (Business & Biodiversity Offsets Programme).

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Impact on Society

Institutional Stakeholders & Financiers

  • Full alignment with EBRD PR6 / IFC PS6, World Gold Council Responsible Gold Mining Principles, and GRI standards.
  • Implementation of a Biodiversity Offset Strategy (BOS) with three pillars: Legacy Areas, company-owned land, and off-site offsets.

Employees & Volunteers

  • Continuous staff training on identifying and preventing environmental risks (e.g., invasive plants, species protection).
  • Employee participation in restoration programs and volunteer actions (e.g., reforestation).

The initiative delivers:

  • Measurable environmental results: millions of tonnes of cleaned materials, millions of plantings, thousands of hectares under monitoring.
  • Socio-economic benefits at local and national level.
  • Institutional compliance with international standards enabling access to financing.
  • Cultural change within the company, with employees actively engaged in biodiversity.


Initiative Location

Key Areas of Intervention

Kassandra Mines, Northeastern Halkidiki

  • Olympias: underground gold, silver, lead, and zinc mine.
  • Skouries: new gold–copper mine, under construction (~76% complete, target production end of 2025).
  • Mavres Petres – Stratoni: in care and maintenance status.
  • Kokkinolakkas: dry stack tailings facility.
  • Legacy Areas (historically impacted sites)

Areas with old mining residues and pollution (e.g., Olympias, Stratoni, Madem Lakkos), where restoration programs are being implemented.

  • Helles Gold Company-owned Land
  • 32 properties in Olympias, Stratoniki, and Skouries, with ecological restoration potential.

Off-site actions (beyond the direct project area)

  • Within the project area: removal of invasive pines (Pinus pinaster), stream reinforcement with log barriers.
  • Within Halkidiki Region (≤50 km): restoration of abandoned mining sites.
  • Northern Greece (≤200 km): restoration of fire-affected forests in Evros.

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Working with Organization

Existing Partnerships

  • Public authorities: Ministry of Environment & Energy, Management Authority of Protected Areas of Central Macedonia (for Natura 2000).
  • International financial institutions: EBRD, IFC, which set strict criteria (Performance Standard 6, PR6).
  • Specialized advisors: environmental consultants, academics, and technical experts in ecology, forestry, ornithology, and flora.
  • Academic institutions (AUTH, Agricultural University of Athens, Forestry schools): for long-term monitoring of species and ecosystems, and for developing innovative restoration methods.
  • Research centers & NGOs (e.g., Hellenic Ornithological Society, WWF Greece, Arcturos): for actions on threatened or flagship species, and independent certification of best practices.
  • Local communities & cooperatives (beekeeping, livestock, forestry): for combining ecological restoration with socio-economic benefits (e.g., honey production, forest products, wildfire prevention).

The value of collaboration:

Partnership with diverse stakeholders provides scientific validity, social acceptance, and international recognition. It strengthens Helles Gold’s credibility and demonstrates that biodiversity protection is not merely an internal corporate policy, but a collective effort with broader benefits.


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Workers Participation

Helles Gold recognizes that the success of any biodiversity strategy depends on the active involvement of its people. For this reason:

1. Employees

  • All employees and contractors are trained to identify and report biodiversity-related issues (e.g., sightings of threatened species, trapped animals, invasive plants).
  • They participate in environmental education and training programs to understand the value of local habitats and species.
  • They are directly involved in implementing measures: removal of invasive plants, care of restored areas, application of soil and land rehabilitation protocols.
  • The company’s environmental teams act as mentors for staff, providing daily guidance on tasks that may have an environmental footprint.

2. Volunteers / Community

  • Volunteer reforestation and clean-up activities are organized with the participation of local associations, schools, and residents.
  • Partnerships are promoted with local stakeholders (e.g., beekeepers, forestry cooperatives) so that communities actively participate in restoration and protection efforts.
  • Awareness programs are implemented (e.g., “adoption” of restored areas, species monitoring with citizen science initiatives).

3. Innovative Elements

  • Use of technological tools (mobile apps, GIS) enabling employees and volunteers to record observations on flora and fauna.
  • Incentives and recognition: awards for employees/teams who actively contribute to biodiversity initiatives.
  • Linking participation with the company’s CSR program, creating added value for local communities as well.

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Benefits for Οrganization

1. Regulatory Compliance & Access to Financing

  • Full alignment with international standards (IFC PS6, EBRD PR6, Responsible Gold Mining Principles) and Greek/EU legislation.
  • Ensures continuity of financing and project support from international institutions.
  • Reduces regulatory risk, secures permits, and strengthens credibility with investors.

2. Strengthening Corporate Reputation & Acceptance

  • Investment of $100 million in cleaning 4 million tonnes of historical deposits.
  • Establishment of a nursery with 1 million seedlings for land restoration.
  • Positioning the company as a model of “responsible mining” in Greece and internationally.
  • Reinforcing the “social licence to operate” and building trust among local communities and NGOs.

3. Internal Value – Human Capital

  • Employee participation in training and environmental actions → strengthening corporate culture and pride.
  • Development of new skills and knowledge for staff and partners (e.g., invasive species management, forest restoration).

4. Long-term Sustainability & Resilience

  • Strengthening ecosystems (forests, streams) → reducing risks from wildfires, floods, and soil erosion.
  • Protection of water resources through specialized management systems.
  • Mitigation of environmental risks that could otherwise increase operational costs in the future.



Connection with Global Goals







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