BUSINESS

Halkidiki gold mine sees output 
jump by more than 50 percent

TAGS: Business

Hellas Gold recorded its best quarterly production in a year-and-a-half at Halkidiki in central Macedonia in the January-March 2020 period, according to provisional figures released by parent company Eldorado Gold last week.

The Canadian group’s subsidiary in Greece produced 15,181 ounces of gold at the Olympiada gold mines, up 53 percent from about 9,900 a year earlier.

Eldorado Gold is also locked in negotiations with the Greek government about a change in the concession contract regarding the golmines at Halkidiki.

It has also utilized its credit line, raising funds of $150 million to hedge itself against the uncertainty generated by the coronavirus epidemic, although it does not have any immediate need to use this liquidity.

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