BUSINESS

SEV chairman urges gov't to find solution over Eldorado

TAGS: Business, Politics

Hours after Canadian mining company Eldorado Gold said it planned to suspend investment at its mines in northern Greece following what it said are government delays in the issuing of permits and licenses, the chairman of the Athens-based Hellenic Federation of Enterprises (SEV), Theodoros Fessas, called upon the left-led government to find a “political solution” to the problem.

“Let’s listen to what they have to say, maybe we could find a political solution to this issue, even at this very last moment,” Fessas told Skai on Monday, while urging Prime Minister Alexis Tsipras to meet with the managers of the Canadian company.

Eldorado, which runs Greek subsidiary Hellas Gold, said 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.

“Permitting delays have negatively impacted Eldorado’s project schedules and costs, ultimately hindering the company’s ability to effectively advance development and operation of these assets,” the company said in a statement.

Online