Canadian Manufacturing

Canadian gold mine owner seeks damages from Greece

Eldorado Gold dubs the move a "good-faith attempt''


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ATHENS, Greece – Canadian gold mining firm Eldorado Gold is seeking 750 million euros (US$875 million) in damages from the Greek state over delays in permits for mining work in the north of the country.

The company said Tuesday the move through its Greek subsidiary, Hellas Gold, is a “good-faith attempt” to resolve the matter, and does not involve the initiation of court proceedings.

The Greek environment ministry said it would examine the request.

Relations between the left-led government and the Vancouver-based firm have been tense over proposed mining work in the Halkidiki peninsula.

Eldorado Gold had previously threatened to suspend operations in Greece, endangering 2,000 jobs, while the government has accused the company of breaching environmental laws.

Greece is trying to attract foreign investors as it emerges from an eight-year economic crisis.

 


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