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Eldorado receives more approvals in Greece, still waiting for others

September 15, 2017 - 4:30 AM

VANCOUVER - Eldorado Gold Corp. (TSX:ELD) says it has received another permit and the approval of a technical study for the closure of its Old Olympias mine in Greece.

The company has been embroiled in a fight with the Greek government over its gold mining operations in the country.

The approvals follow comments by the company that it planned to suspend investment at its mines in Greece amid what it said were delays in the issuing of permits and licences.

Eldorado received two other permits earlier this week, but the company said there are still issues outstanding including a permit for its Skouries flotation plant.

The Greek government served formal notice that it would initiate an arbitration hearing regarding the company's Madem Lakkos metallurgical plant alleging a technical study is deficient. Eldorado denies the claim.

Eldorado said once it receives the Skouries permit and the Greek government is willing to engage in constructive discussions, it will be in a position to reassess its investment options.

News from © The Canadian Press, 2017
The Canadian Press

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