Eldorado Gold seeking $1.1B from Greece as compensation for permit delays
Vancouver – Eldorado Gold Corp. is seeking $1.1 billion from the Greek government for damages it says it suffered due to permit delays related to its Skouries project.
The company says the application is a non-judicial request for payment and does not initiate legal proceedings.
Eldorado chief executive George Burns called it a “good-faith attempt” to resolve the matter with the Greek government.
The company suspended work at the Skouries project last year amid an ongoing dispute with the Greek government.
The Vancouver-based company said at the time that Greece’s Ministry of Energy and Environment had not issued the required permits for the project.
The company has said it would re-assess its investment in the Skouries project once it receives the required permits.