George Burns

The Skouries mining project in Halkidiki, northern Greece, alongside the Olympiada and Mavres Petres mines and other facilities belonging to Kassandra Mines, constitutes a pillar of strong growth for Eldorado Gold, according to the management of the Canadian group.

Eldorado Gold's assets in Greece are key to its strategic development plans, the CEO of the Canadian company, George Burns, said on Monday, underlining that the copper deposits at Skouries are so significant that the company will become one of the largest copper producers in the European Union.

Eldorado Gold Corp is open to discussions on potentially paying higher royalties in Greece as it seeks permits needed to restart work at its stalled Skouries development, chief executive officer George Burns said on Monday.

Greek Prime Minister Kyriakos Mitsotakis met with the chief executive officer of Canadian miner Eldorado Gold, George Burns, his Athens said on Friday.

According to the announcement, the prime minister reiterated the government's support for the company's investment plans in Greece on the condition that it respects environmental regulations and generates jobs.

The Canadian company Eldorado Gold, whose sister company Hellas Gold runs mines in northern Greece, has sought 750 million euros in damages from the Greek state.

The company sought the sum for losses it claims to have sustained due to delays in the state's issuing of licenses for its plant at Skouries as well as lost profits.

Eldorado Gold will be planning its next moves after its vindication on Wednesday by an arbitration panel in its dispute with the Greek state over the mining unit at Madem Lakkos in the Halkidiki region of northern Greece. 

Eldorado Gold has said that an arbitration panel has ruled in the Canadian company's favor in its dispute with the Greek government regarding the mining unit at Madem Lakkos.

The arbitration had been initiated by the Greek government last year.

Following the launch of a "constructive dialogue" with the government, Canadian mining company Eldorado Gold said on Thursday that it would not suspend its operations in northern Greece as it had threatened earlier this month.

Canada's Eldorado Gold, which earlier this month said it would suspend operations in Greece unless it received all of its pending licenses, issued an announcement on Thursday saying it has entered "constructive dialogue" with the Greek government and will be postponing its decision.

“Eldorado Gold Corporation” issued a press release describing its next steps on the issue of the company’s investment in Greece.

Eldorado Gold Enters Constructive Dialogue with Greek Government