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Eldorado Gold gets license for Olympias Greek mine project

Published 2016-03-22, 08:10 a/m
© Reuters. Eldorado Gold gets license for Olympias Greek mine project
ELD
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ATHENS, March 22 (Reuters) - Canadian miner Eldorado Gold's
ELD.TO 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.

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