BUSINESS

Ministry eyes 'compromise' in Skouries mine dispute

TAGS: Business, Environment

Greece's leftist-led government has said a “compromise” is needed to resolve a dispute that has disrupted plans by Canadian miner Eldorado to develop a gold mine in Skouries, northern Greece.

“The position of the government and the environment ministry is unchanged. Respect for the law, the public interest and the environment are the three conditions that any major investment must fulfil,” Environment Minister Panos Skourletis said on Thursday.

“That said, there are also political issues. If an investment of this sort is to move forward it must also not provoke social tension,” he said, adding that the government could only interfere in the political, not the legal, side of the dispute.

“Overcoming the problems [requires] compromise,” he said.

The project has been halted over environmental concerns, with local and green activists holding several protests against the project.

Last week, Eldorado Gold’s Greek unit Hellas Gold was granted a license for its Olympias mine project.

Eldorado has invested about $700 million to develop the Skouries and Olympias mines since 2012 and plans to invest another $1 billion in the projects.

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