VANCOUVER – Eldorado Gold Corp. is temporarily postponing its decision to suspend work at its operations in northern Greece as it begins talks with the Greek government.
The company (TSX:ELD) has been embroiled in a fight with the Greek government over its gold mining operations in the country.
Eldorado accused the government of delaying key permits and licenses and threatened last week to suspend investment.
Since then, the government has issued several permits and approved a key technical study for the closure of an old mine.
It also served formal notice that it would initiate an arbitration hearing regarding the company’s Madem Lakkos metallurgical plant.
Eldorado chief executive George Burns says the company is “confident” that the arbitration process will be concluded in a timely and efficient manner.
The decision came as about 200 company workers protested outside the Development Ministry in Athens, demanding the government ensure Eldorado continues operating.
The workers gathered outside the ministry building during the morning rush hour Thursday, banging their hard hats on the road and holding banners saying “Yes to Development.”
— With files from The Associated Press