Future of Halkidiki gold mines put in doubt

The Greek subsidiary of Canada's Eldorado Gold, Hellas Gold, is set to put its investment in mining projects in Halkidiki on ice following the government's decision to refer its dispute with the company to arbitration.

Hellas Gold announced on Wednesday that it has suspended the inauguration of the facilities at the Olympias mine in northern Greece 'until further notice.'

The dispute between the mining firm and the government relates to the operating licenses for the Olympias and Skouries mines, which were due to be issued this January.

The arbitration process is due to begin at the end of August but it is not known how long it will take to be completed.

Meanwhile, the union representing some 2,400 people employed in the projects said that they plan to take action to protect their jobs.