Greece seeks arbitration with EldoradoGreek environment minister to take Eldorado to court over contract dispute
Greek environment minister to take Eldorado to court over contract dispute
By Elle Crosby
June 12, 2017
Eldorado has three projects and one operating mine in Greece – Stratoni, shown here in the background – but the ministry's statement did not specify which of the sites the dispute is related to. Courtesy of Eldorado Gold
Greece’s environment ministry is taking Eldorado Gold to arbitration court to ensure the company’s subsidiary, Hellas Gold, respects its contractual obligations in its Greek projects, according to a letter minister George Stathakis wrote to the President of the State Legal Council on June 8.
Eldorado Gold said in a statement it has not yet received formal notification of arbitration proceedings, and so it is continuing with operations and development according to plan.
Eldorado has three projects and one operating mine in Greece, but the statement made on the Ministry of Energy and Environment’s website did not specify which of the sites the dispute was related to.
The Vancouver-based company said it operates in accordance with all applicable laws and regulations wherever it conducts business.
This is the latest development in a long line of clashes between Eldorado and the Greek government. The company suspended construction work at its Skouries project in January 2016, and threatened to do the same at its Olympias project, after permitting issues plagued the miner in 2015. The company resumed work at Skouries in May 2016 after receiving approval for a technical study.