http://www.cbc.ca/news/business/
Relations between Vancouver-based Eldorado and the leftist Greek government have been testy
Shares of Eldorado Gold slid in Wednesday trading following reports that the Greek government is temporarily halting production at the company’s operations in northern Greece.
Reuters quoted Greek Energy Minister Panos Skourletis as saying Eldorado had “violated some terms.” He provided no elaboration.
“We are recalling the technical studies, which will result in the halting of operations at Skouries and part of operations in Olympiada,” Skourletis said, referring to two of the company’s mine sites.
According to the Associated Press, documents released by the ministry say the violations concern a project to build a copper and gold processing plant, including not carrying out certain tests on the flash smelting process proposed for use. According to the decision, the suspension will be lifted if the company resubmits the necessary documentation and meets the requirements within a year.