Eldorado Gold Corporation (NYSE: EGO) produced its first copper concentrate at the McIlvenna Bay Project in Saskatchewan, Canada, on June 7, 2026, according to a company statement.

The company completed wet commissioning of the processing plant and began hot commissioning before achieving the production milestone. The operating team is working toward the nameplate capacity of 4,900 tonnes per day during the ramp-up period.

Eldorado expects to achieve commercial production at McIlvenna Bay in the third quarter of 2026. The company acquired the project through its purchase of Foran Mining Corporation, which was completed on April 14, 2026.

"This project is a compelling example of Canada's ability to advance critical mineral assets responsibly and with conviction," said George Burns, Chief Executive Officer. "McIlvenna Bay diversifies our revenue base with substantial copper and zinc production."

The company plans to invest approximately $17 million in additional exploration spending at McIlvenna Bay and its mineral claims in 2026. The exploration activities will include drilling at the adjacent Tesla Zone and the Bigstone deposit, along with geophysical surveys to identify new targets.

McIlvenna Bay is located within a mineral-rich belt extending over 225 kilometers that has supported base metal production for more than a century. The project adds copper and zinc production to Eldorado's portfolio, which previously focused on gold mining operations in Canada, Turkey, and Greece.

The information is based on a press release statement from the company.