Skouries mine

Shares of Eldorado Gold rose as much as 14.6 percent on Monday on optimism that a snap poll called by Greek Prime Minister Alexis Tsipras could result in the election of a new business-friendly party and help resolve permitting problems the miner has faced for years in Greece.

Greece aims to resolve a long-standing standoff with Canada's Eldorado Gold Corporation over its development plans in the coming weeks, the Energy Ministry said on Tuesday.

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. 

Canada's Eldorado Gold Corp filed a new technical report for its contentious Skouries gold mine project in Greece on Thursday, which said it "significantly" reduces the development's environmental footprint.

The Skouries report updates a 2011 plan with industry-best practices for wastewater management and tailings, the report said.

Canadian mining firm Eldorado Gold provided an update on the arbitration process with the Greek government on the Skouries gold mines in central Macedonia on Tuesday, confirming at the request of the arbitral panel that a 90-day arbitration period has been extended by 60 days.

It will now end on April 6.

[Reuters]

Canadian company Eldorado Gold said on Thursday that it is freezing investment at the Skouries gold mine in northern Greece and has appealed to the Council of State, the country's highest body of arbitration, to uphold its legal rights.

The break on the investment has fueled concern among some 2,500 workers over the future of their jobs.

Eldorado Gold said on Thursday it would freeze investments in its Skouries gold mine in Greece, taking a tough stand in its battle with the country's government.

Eldorado's investment is one of the biggest in Greece and has long been viewed as a test of the country's resolve to attract foreign capital.

The Canadian mining company Eldorado Gold and the government appeared to remain at loggerheads Wednesday over mines in northern Greece whose operation Eldorado has threatened to suspend unless Greek authorities issue a series of pending licenses.

The deadline this Thursday that Eldorado Gold has set the Greek state - threatening to suspend its investment program in Greece - is fast approaching, and the Canadian company's local subsidiary Hellas Gold has returned to the issue of the pending licenses for the Skouries gold mine in Halkidiki, separating them from the arbitration process.

Greece granted Eldorado Gold Corp two remaining permits on Friday for its Olympias mine, the government's latest attempt to defuse a standoff with the Canadian miner, which has threatened to suspend investment in the country.