Eldorado Gold has released a statement regarding a snap decision by the Greek government confirming that Hellas Gold S.A. – a Greek subsidiary of the Canadian company – to temporary  suspend operations at the unit, citing “violations” of technical studies pertaining to the Skouries and Olympias projects in Halkidiki, northern Greece.

The Canadian company’s CEO, Paul Wright, commented:

“We are most disappointed and perplexed by this entirely inappropriate decision of the Ministry of Energy, which puts 5,000 direct and indirect jobs inGreece at risk, including the jobs of 2,000 Greek employees and contractors of Hellas Gold.  We have received numerous favorable decisions of the Council of State – Greece’s Supreme Court on administrative and environmental matters – over the course of the last three years, which confirm the legality of our activities in Halkidiki.  We will once more take legal action against a decision of the Ministry in order to safeguard the rights of Eldorado, Hellas Gold, our Greek employees and the communities and stakeholders that support our projects in Halkidiki.  At this time, work at all our Halkidiki operations and projects continues as normal; however, Hellas Gold may be forced to suspend all its mining and development activities in Halkidiki due to this rash decision by the Ministry of Energy.”

Abrupt govt announcement, with an eye to …elections

The abrupt decision for a temporary halt to mining operations was announced by the relevant minister , Panos Skourletis, after a meeting with PM Alexis Tsipras on Wednesday, with the latter even praising the decision.
Leftist SYRIZA while in the opposition was absolutely hostile to the investment, citing an unfavorable contract and environmental damage, more-or-less echoing opposition by pro-ecology groups and far-leftists ideologically opposed to private sector involvement.
The decision, taken amid intense speculation over yet another snap election, probably in September, could mean that work at the gold mining complex stops for up to a year.

According to the SYRIZA-affiliated daily “Avgi”, the decision comprises a “vindication of the residents’ struggle against the economic, social and ecological crime”.