BUSINESS

Eldorado Gold seeks 750 mln euros in damages from Greek state

TAGS: Business, Environment, Politics

The Canadian company Eldorado Gold, whose sister company Hellas Gold runs mines in northern Greece, has sought 750 million euros in damages from the Greek state.

The company sought the sum for losses it claims to have sustained due to delays in the state's issuing of licenses for its plant at Skouries as well as lost profits.

In a statement, Eldorado president and CEO George Burns said the appeal was and attempt "in good faith" to resolve the company's differences with the Greek state.

Responding to the statement, the ministry said that the basic prerequisite for the development of the mines is the provision of the require guarantees by the company. 

 

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