Healthy Environments Now and For the Future

Our Commitment to Healthy Environments Now and for the Future

We carefully plan, design and build operations to mitigate our environmental impacts, and work with host communities and governments to ensure that our operations meet acceptable standards of practice and adhere to regulations. By investing in technologies and implementing leading environmental practices, where feasible, we seek to safely manage tailings and waste, restore disturbed land, reduce our water and energy consumption and protect the ecosystems surrounding our sites.

Environmental laws and regulations vary in each of our operating jurisdictions, and we rely on our teams across the Company to understand regulations and align our operations to legal requirements. In addition to regional regulations, SIMS provides environmental performance requirements for all of our sites. We align our operations to international best practices and standards, including MAC’s TSM Framework and the ISO 14001 Environmental Management Systems Standard at Kışladağ, Efemçukuru, Olympias and Stratoni.

Energy and Climate Change

Eldorado’s Climate Change Strategy describes our approach to managing climate-related risks and opportunities, including mitigation and adaptation measures, and is aligned with recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).

Climate change is a global issue that has the potential to impact our operations, stakeholders and the communities in which we operate. To support the resilience of our business from the direct effects of climate change, as well as the ways the world may respond to climate change, Eldorado regularly seeks to understand the risks, opportunities and impacts that may arise.

In 2020, Eldorado conducted a corporate-level climate risk and opportunities assessment to understand how climate change and the transition to a lower-carbon future could impact our business over the short-, medium- and long-term. This analysis indicated that the most immediate material risks and opportunities are related to the physical impacts of climate change and transition-related regulatory changes.

Following this assessment, in 2021, Eldorado commissioned third parties to conduct physical and transition climate scenario risk analyses. Physical risks can be acute or longer-term changes in climate patterns (e.g., increased severity of extreme weather events or sustained higher temperatures). Transition risks include policy, legal, technology, reputation and market changes to address mitigation and adaptation requirements related to climate change (e.g., carbon pricing, climate-related litigation, renewable energy, stakeholder perceptions of a company’s contribution to, or detraction from, a low-carbon economy transition, and shifts in the supply and demand of certain commodities). Eldorado will seek to update its climate-related physical risk assessments in 2024.

For further discussion of our climate change risks and opportunities, please see our latest Climate Change & GHG Emissions Report.

Sustainability Spotlight
ENERGY AND CLIMATE CHANGE AT SKOURIES

The Skouries development project, part of our Kassandra Mines Complex in Greece, will produce copper and gold and generate socio-economic value locally and nationally. With its expected annual average production of 67 million pounds of copper, it is also positioned to contribute to the supply of critical minerals in a socially and environmentally responsible way.

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Our GHG Emissions Mitigation Target

As we implement our Climate Strategy to reduce GHG emissions, we recognize the importance of holding our progress to account through measurement and disclosure.

This is why Eldorado has set a target to mitigate Scope 1 and Scope 2 GHG emissions by an amount equal to 30% of our 2020 baseline from current operating mines by 2030, on a “business- as-usual” basis.

This target accounts for the potential future growth of our operations and energy needs of our sites, while focusing on discrete and available opportunities to reduce emissions as our first step toward decarbonization.

Operating mines included in the target are Lamaque, Kışladağ, Efemçukuru, Olympias and Stratoni. Eldorado does not expect uniform GHG emission reductions from each operating mine. Progress toward the target will be measured on a discrete basis by quantifying GHG emission mitigations and reductions relative to a “business-as-usual” scenario. As new mines come into operation, our GHG emissions may increase. While operations other than those listed above are not currently included in our target, Eldorado will seek to integrate carbon considerations into the design and construction of new projects, such as through implementation of energy efficient systems, technologies and processes and procurement of energy from low-carbon and renewable sources, in alignment with our Climate Change Strategy.

Sustainability Case Study
ELECTRIFICATION AT ELDORADO GOLD QUÉBEC

In 2023, Eldorado Gold Québec achieved a milestone and integrated the Sandvik TH550B electric truck into its fleet of mobile equipment. This truck, with a maximum capacity of 50 tonnes and increased ramp speed, is another step toward improving production efficiency, improving the health and safety of workers and mitigating our GHG emissions.

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Tailings and Waste

Eldorado is committed to implementing leading practices in tailings management.

Eldorado is proud of our tailings management stewardship, and we work to mitigate associated risks through the use of technologies, such as dry-stack tailings. We also implement leading management practices such as establishing an Independent Tailings Review Board (ITRB).

Eldorado’s Technical Services, Operational Support function oversees and manages Eldorado’s tailings facilities. We rely on Engineers of Record and third- party experts to support the design, construction, operation, maintenance, surveillance and closure of tailings facilities. Eldorado’s EVP, Technical Services & Operations is responsible for overseeing the operation, management and commercial matters related to tailings management facilities. Ultimately, Eldorado’s President & CEO is responsible for the Company’s tailings management practices. Eldorado’s Technical Committee of the Board provides oversight of technical matters related to tailings, and the Sustainability Committee has oversight of sustainability-related tailings matters.

Our Global Tailings Stewardship Program integrates with SIMS and leading external frameworks, including TSM and the RGMPs, and will seek to bring consistency and create a shared knowledge base across our global operations. The program will capture all stages and areas of tailings management and governance, including design, construction, operation, closure, monitoring, inspection, analysis, risk assessment, audit, training, emergency response and preparedness, stakeholder engagement and communications.

Implementing Leading Practices

Tailings are created when mined ore is processed through water-based solutions to separate valuable metals from surrounding rock. Once metals are separated and collected, the remaining mixture of water, waste rock and residual chemicals results in an uneconomic material that must be stored securely.

Tailings are typically stored in a slurry form, within purposely constructed tailings dams or tailings management facilities (TMFs). Properly designed, constructed and maintained TMFs pose manageable risks when maintained according to designed conditions. Tailings containment failure is typically due to design conditions not being maintained. Containment failure of wet tailings has higher consequences to the surrounding environment due to higher flow-ability.

Dry-stack technology is an alternative method of tailings management that removes most of the water from tailings. The water is recycled for future mining uses or treated and discharged into the environment and the dry tailings are transported and stored in TMFs. Eldorado currently utilizes dry-stack tailings at our Efemçukuru and Olympias mines. Dry-stack tailings from the Olympias mine are stored at the Kokkinolakkas Tailings Management Facility. As a heap leach operation, Kışladağ does not produce tailings. The Integrated Extractive Waste Management Facility under construction at Skouries is designed as a dry-stack facility. Eldorado’s SIMS aligns with internationally recognized best practice and corporate commitments under the WGC’s RGMPs and MAC’s TSM. Lamaque and Olympias underwent Eldorado’s SIMS Compliance Verification in 2022 and 2023, respectively, and both achieved Level AAA under the MAC-TSM Tailings Management Protocol based on an external verification, which is the highest level of performance a site can achieve.

Eldorado maintains an ITRB to further strengthen design, operational and governance practices. In 2023, the ITRB engaged with Eldorado’s global tailings management teams and conducted a site visit at the Lamaque Complex. The site visits provided opportunities for our internal teams to learn from worldclass experts on safe tailings design, construction and operation. The ITRB process continues to provide Eldorado with valuable opinions and non-binding recommendations to continuously strengthen the safety of our tailings facilities globally. The ITRB will seek to conduct biannual reviews of Eldorado’s tailings management facilities globally

Dry-stack technology is an alternative method of tailings management that removes most of the water from tailings.

The water is recycled for future mining uses or treated and discharged into the environment and the dry tailings are transported and stored in TMFs.

Eldorado currently utilizes dry-stack tailings at our Efemçukuru and Olympias mines. Dry-stack tailings from the Olympias mine are stored at the Kokkinolakkas Tailings Management Facility. As a heap leach operation, Kışladağ does not produce tailings. The Integrated Extractive Waste Management Facility under construction at Skouries is designed as a dry-stack facility.

Eldorado’s SIMS aligns with internationally recognized best practice and corporate commitments under the WGC’s RGMPs and MAC’s TSM. Lamaque and Olympias underwent Eldorado’s SIMS Compliance Verification in 2022 and 2023, respectively, and both achieved Level AAA under the MAC-TSM Tailings Management Protocol based on an external verification, which is the highest level of performance a site can achieve.

Eldorado maintains an ITRB to further strengthen design, operational and governance practices. In 2023, the ITRB engaged with Eldorado’s global tailings management teams and conducted a site visit at the Lamaque Complex. The site visits provided opportunities for our internal teams to learn from world-class experts on safe tailings design, construction and operation. The ITRB process continues to provide Eldorado with valuable opinions and non-binding recommendations to continuously strengthen the safety of our tailings facilities globally. The ITRB will seek to conduct biannual reviews of Eldorado’s tailings management facilities globally.

More information about Eldorado’s current dry-stack tailings management facilities can be found in our latest Sustainability Report.

Sustainability Case Study
CONCURRENT REHABILITATION USING CITY COMPOST

In 2023, Eldorado Gold Québec received the Québec Mining Association’s Distinction Award in the Environment category, for its innovative project that reuses waste from the municipality as inputs to progressively rehabilitate the Sigma tailings storage facility.

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Sustainability Spotlight
RESPONSIBLE MANAGEMENT OF THE KISLADAG HEAP LEACH FACILITY

At Kışladağ, we operate heap leach facilities to extract gold from mined ore and, in doing so, we apply strict management practices and voluntary standards to mitigate associated risks and uphold the safety and health of our people, host communities and the environment.

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Water and Air

Water Use

Availability and access to water is critical for our mining operations. We use water for mineral processing, dust suppression, slurry transport and personal consumption. Responsible management of water resources is therefore essential to our long-term sustainable development, and to our environmental stewardship and relationships with local stakeholders.

Our SIMS Water Stewardship standard requires sites to seek continuous improvement of water efficiency through water recycling, where feasible. We strictly control water use and each operation is implementing practices in support of this objective.

Water use is continuously monitored using flow meters, and we regularly take water quality samples from groundwater and surface water sources within and around our sites. We compare water-quality results with the limit values set out in pertinent regulations and our operating permits, and we share these detailed results with regulators and government, typically on a quarterly basis.

Environmental teams at each of our sites are responsible for day-to-day water management activities, including implementation of our policies, programs and engaging with regulators. They report through the Mine General Manager, and Eldorado’s EVP, Technical Services & Operations is responsible for overseeing water management and performance across our operations. Ultimately, Eldorado’s President & CEO is responsible for the Company’s water-related matters, and independent oversight is provided by the Sustainability Committee of the Board.

Some regions where we operate, including Türkiye, are more prone to water stress, and we work carefully to manage water as a shared resource. In regions such as Greece, water stress can be accompanied by periods of increased precipitation. Eldorado’s SIMS Water Stewardship standard provides a set of minimum performance requirements for Eldorado’s water management practices, including managing water in conformance with Level A of the MAC-TSM Water Stewardship Protocol. Lamaque and Olympias have each undergone their first SIMS Compliance Verifications and respectively achieved Level AAA and Level A under the MAC-TSM Water Stewardship Protocol.

Interactions with Water
Withdrawal

Definition:
All water drawn from surface water, groundwater, seawater, or a third party for any use

How we interact with water
Most of our water withdrawals are resultant of pumped water that has infiltrated the mines, originating from renewable groundwater sources, and used predominantly in ore processing. Water withdrawals are done in accordance with local regulations and our applicable permits.

Consumption

Definition:
All water that has been withdrawn and used in production, evaporated, transpired, generated as waste, stored, or otherwise rendered unusable to others, and is therefore not released back to surface water, groundwater, seawater, or a third party

How we interact with water
Recycled water makes up the majority of our water consumption, particularly at those sites where we have zero water-discharge requirements. Where possible, we seek to recycle water in processes and across our operations. Recycled water is used for mineral processing, dust suppression and slurry transport as well as throughout our leach pad areas and adsorption, desorption, recovery (ADR) carbon plants. Water is also stored in TMFs and used for human consumption onsite, and minor losses are attributable to evaporation.

Discharge

Definition:
All water that has been used or unused and released to surface water, groundwater, seawater, or a third party

How we interact with water
All water that comes into contact with our sites is treated and tested before being discharged back to the environment (e.g., rivers, lakes, and reinjection into groundwater). We discharge water in accordance with local regulations and our applicable permits and licenses. Some of our sites, such as Skouries, have zero water-discharge requirements.

Air and Dust

We recognize the impacts of air pollution and dust to our workforce, surrounding communities and the environment, and actively work to manage pollution and dust at our operating sites. Within SIMS, we have established an Air, Noise and Vibration Management standard that aligns with internationally recognized best practices, such as the IFC General EHS Guidelines, and includes requirements such as maintaining dust control and air quality monitoring plans. At operations that generate more dust due to weather conditions and open pit activities, we are actively working to monitor and manage particulate matter in accordance with the World Health Organization’s global air quality guidelines, through methods such as dust suppression solutions on haul roads during drier months. 

Biodiversity and Reclamation

Eldorado designs and constructs our projects to minimize land disturbance while prioritizing a safe working environment for our employees and contractors.

Constructing and operating our mines can have a significant impact on local land, environments and communities, though many of these impacts can be reversed. Environmental reclamation practices such as deconstructing closed facilities, treating contaminated soil and revegetating areas where trees and/or other plants were removed help to revitalize the impacted land. Environment teams at each of our sites are responsible for reclamation activities, under the direction of the respective Mine General Manager, and EVP, Development, Greece, VP & Country Manager, Canada, and VP & Country Manager, Türkiye for their respective jurisdiction. At the corporate level, Eldorado’s EVP, Technical Services & Operations is responsible for the reclamation of disturbed land. Ultimately, Eldorado’s President & CEO is responsible for advancing environmental reclamation, and these activities are overseen by the Sustainability Committee at the Board level.

Eldorado considers biodiversity, deforestation and reclamation in our planning and management activities. We operate plant nurseries at Olympias and Kışladağ for the reclamation of both historical and current mining areas. To date, we planted nearly 96,000 saplings over an area of 106 hectares at Kışladağ, including complete reclamation of the waste rock area, and donated hundreds more to a local village, proudly contributing to revegetation and reforestation of the surrounding region. In 2023, we moved over 340,000 tonnes of old tailings and contaminated soils at the Olympias historical tailings area and seeded and planted well over 3,000 units of native flora to revegetate the historical stockpile waste rock area.

Eldorado does not operate or own sites in any of the following internationally recognized protected areas: International Union for Conservation of Nature (IUCN) Protected Area Categories I-III,1 UNESCO World Heritage Sites, UNESCO Man and the Biosphere Reserves, Convention on Wetlands of International Importance (Ramsar Convention).

Sustainability Case Study
PROTECTING “SFIKIARIS” AT SKOURIES

The European honey buzzard (Pernis apivorus), or Sfikiaris, as it is known in Greece, is a migratory bird of prey that spends most of its days in Africa and visits parts of Greece each year for the breeding and nesting season.

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