Investing.com - Financial Markets Worldwide
🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Eldorado scores legal win over disputed Greek goldmine project

Published 2015-08-27, 07:01 a/m
© Reuters. Eldorado scores legal win over disputed Greek goldmine project
ELD
-

ATHENS, Aug 27 (Reuters) - A top court in Greece ruled on
Thursday in favor of Canada's Eldorado Gold ELD.TO over its
disputed goldmine project in the north of the country, though
the project was expected to remain on ice for the time being, a
company executive told Reuters.
The decision comes after Prime Minister Alexis Tsipras's
leftist government announced last week that it was halting the
$1 billion gold mine project run by Eldorado, one of the biggest
foreign investments in the country, arguing that the company had
violated contractual terms.
Eldorado halted its operations at the goldmine in Halkidiki
region as a result and put most of its 2,000 employees on
suspension.
Eldorado's country manager for Greece Eduardo Moura said on
Thursday that the court ruled in favor of Eldorado after the
company filed a lawsuit in April against Greek authorities on
issues including a flash-melting technical study.
"The ruling in favor of (Eldorado subsidiary) Hellas Gold is
the result of a lawsuit we filed months ago," Moura said.
"It doesn't allow us to start activities in Halkidiki but it
undermines the argument that the ministry used to revoke our
permits," he added.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.