Canadian miner Eldorado Gold’s Greek unit Hellas Gold announced it was granted a license from Greece’s environment and energy ministry for its Olympias mine project, the second one in Halkidiki after the Skouries mine.
The Vancouver-based miner had been in a dispute with the Greek government over plans to develop gold mines in a forested area in northern Greece, with Athens voicing environmental concerns over the project.
“The project can now continue so that from the first quarter of 2017 the ore that will be produced at the mine will be processed at the Olympias facility,” Hellas Gold said.
Final ruling
Eldorado has invested about US$700 million to develop the Skouries and Olympias mines since 2012 and plans to invest another US$1 billion in the projects.
In late January, Greece’s top administrative court had annulled the government’s decision last year to revoke Eldorado Gold’s mining license, according to court documents published on Wednesday.
The Canadian mining company had appealed to Greece’s top court to overturn the ban on its plans to develop gold mines in a forested area of northern Greece, in a case widely seen as a test of the leftist government’s approach to foreign investment.
The majority of the court’s judges ruled in favour of Eldorado in November, but a final ruling was pending.
Source: Reuters
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
