Greece grants another permit for Eldorado Gold’s Olympias project


Greece granted Canada’s Eldorado Gold another permit for its Olympias mining project on Friday in an attempt to defuse tension with the Vancouver-based company which had threatened to halt investment in the country.

The energy ministry published on Friday the approval of Eldorado’s technical study to close its old Olympias mine. A ministry official said an operating permit for a paste plant there would be granted later on Friday – the final permit required.

Eldorado said on Monday it would freeze new investment at its Olympias and Skouries projects, as well as its Stratoni mine in northern Greece, from September 22.

It blamed years of permit delays and demanded information about an arbitration process Greece has announced to settle their differences.

On Wednesday, the ministry gave Eldorado an operating permit for Olympias, following a protest by workers who fear job losses, and said it would approve more permits this week so Eldorado could fully operate the project.