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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.

 

 

Companies in this story: (TSX:ELD)

 

The Canadian Press

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