Eldorado Gold is suspending investment in its Skouries gold-copper development project in Greece. The move, announced Thursday, comes after Greece’s Ministry of Energy and Environment failed to issue an amended electromechanical installation permit for the Skouries flotation plant. “Other matters” were referenced in the statement which, save for the relocation of antiquities at the Skouries site, were not specified.

"Although we have made good progress on the Olympias mine, we require the necessary permits and government support prior to investing further in Skouries,” Eldorado’s president and CEO George Burns said in a statement. “As a consequence we are now taking the necessary legal action to enforce the Company's rights while continuing efforts to resolve outstanding matters through ongoing dialogue."

Eldorado said it has initiated legal action requesting judicial protection against the ministry's failure to issue routine installation permits and filed a petition against the ministry for non-compliance.

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In September, Eldorado, one of the largest foreign investors in Greece, threatened to suspend its Greek investments if the government did not approve permits, clarify pending arbitration and pursue constructive dialogue with the company. But before its Sept. 22 deadline Eldorado received several permits for its Olympias project and details on the ministry’s arbitration suit, and suspended its threat.

"We preserve the right to place our assets on care and maintenance and to take prompt legal action to protect the company and its assets in Greece should our dialogue with the Ministry of Energy and Environment prove unsuccessful,” Burns said in a statement at the time.

Eldorado said it will “re-assess its investment” in Skouries after it receives the permits and sees a “supportive government open to discussions regarding the use and implementation of best available technologies.”