NEWS

New Democracy slams gov’t over Eldorado pullout

TAGS: Politics, Business

Greece’s conservative opposition on Monday attacked the government following a decision by Canadian mining company Eldorado Gold to suspend investment at its mines and development projects in the country due to a delay in permits from Greek authorities.

In comments made on Skai TV, New Democracy spokesman Vassilis Kikilias accused the SYRIZA-led administration of having a serious allergy to free-market policies and foreign investment, while comparing Alexis Tsipras, the country’s leftist prime minister, to Hurricane Irma.

“Tsipras [does to Greece] what hurricane Irma does to the USA,” Kikilias said. “He destroys everything in his wake.”

In a statement Monday, 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.

Kikilias said New Democracy was fully behind the project.

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