Eldorado Gold Gets Two Permits to Operate in Northern Greece, More Permits Due

    DCIM100MEDIA

    The back and forth discussions between the Greek State and Eldorado Gold mining company continues, with the Canadian company receiving two of the permits required to continue its operation in Olympias, in Chalkidiki, Northern Greece.

    This is a positive development after Monday’s threat by Eldorado Gold that it would suspend its operations in Greece, if authorities keep delaying issuing the permits needed. Some government officials and ruling party MPs spoke of blackmail, and publicly wished the company stop its operations and move out of Greece, on the grounds that the mining activities are harmful to the environment.

    However, on Wednesday, the Minister of Environment and Energy, Giorgos Stathakis, reassured the Canadian company and mine workers, that the necessary permits will be given on time and issued two permits.

    “We still expect the rest of the licenses,” Eldorado Gold CEO George Burns, told reporters on Wednesday.

    “The prospect of constructive dialogue with the government would certainly be preferable to recourse, to justice and arbitration,” Burns said. “But we are absolutely sure that any possible arbitration will once again demonstrate that the company firmly respects the applicable legislation and the terms of the licensing, as well as the commitment to the operation and development of our projects in Olympias and Skouries with absolute security, responsibility and, above all, protection of the environment.”

    Eldorado Gold claims that there are some pending issues regarding the overall investment in Greece, some of them are:

    The approval of the technical study on the closure of the old holdings of the Olympias Mines, and the pertinent license for the installation of the electromechanical equipment for the stonework unit;

    Modification of the permit to install the electromechanical equipment at the Skouries enrichment plant;

    The decision regarding the archaeological finds in Skouries.