Eldorado Gold suspending investments in Greek mines

The Associated Press


Published Monday, September 11, 2017 12:39AM EDT


Last Updated Monday, September 11, 2017 1:15AM EDT

ATHENS, Greece – Canadian mining company Eldorado Gold, one of Greece’s largest foreign investors, plans to suspend investment at its mines in Greece following what it says are government delays in the issuing of permits and licenses.

Eldorado, which runs Greek subsidiary Hellas Gold, was operating mines in northern Greece that have faced opposition from parts of local communities on environmental grounds, with protests often turning violent.

Eldorado said in an announcement Monday it would continue maintenance and environmental safeguards but would make no further investment in three mines in the Halkidiki area of northern Greece and two projects in the northeastern province of Thrace.

The company said “suspension and termination of contractors and employees” would be done according to Greek law.

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