Eldorado agrees to extend Greek arbitration period
VANCOUVER (miningweekly.com) – Canadian miner Eldorado Gold has agreed to extend the 90-day arbitration period by 60 days to April 6, 2018.
The Greek arbitration panel hearing a complaint by the country’s Finance, and Environment and Energy Ministries against the company's subsidiary Hellas Gold requested the extension.
The arbitration hinges on a technical study, submitted in December 2014, which Eldorado completed for the Madem Lakkos metallurgical plant for treating Olympias and Skouries concentrates in the Stratoni Valley. Greece alleges that the technical study is deficient and thereby in violation of the transfer contract and the environmental terms of the project.
Eldorado disputes this, saying it is “highly confident” that the subject technical study is robust and consistent with the transfer contract, the business plan and the approved environmental terms of the project.
Eldorado is facing headwinds regarding its elevated leverage, the execution risk in developing key projects in Greece, where government actions have delayed development, and production challenges at its main operating mine in Turkey.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation