ECONOMY

Eldorado Gold gets license for Olympias Greek mine project

eldorado-gold-gets-license-for-olympias-greek-mine-project

Canadian miner Eldorado Gold’s Greek unit Hellas Gold said on Tuesday it was granted a license from Greece’s Environment and Energy Ministry for its Olympias mine project.

The Vancouver-based miner had been in a dispute with the Greek government over plans to develop gold mines in a forested area in northern Greece, with Athens voicing environmental concerns over the project.

“The project can now continue so that from the first quarter of 2017 the ore that will be produced at the mine will be processed at the Olympias facility,” Hellas Gold said.

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.

[Reuters]