Eldorado suspends investment in Greece citing regulatory hurdles

Canada's Eldorado Gold Corp said on Monday it would suspend investment at its mines and development projects in Greece due to a delay in permits from the Greek government.

The company said no additional investment will be made into the Olympias and Skouries projects and the Stratoni mine in Greece, and will place them on care and maintenance from Sept. 22.

Eldorado is developing the Skouries and Olympias projects in northern Greece, where it also operates the Stratoni mine. Skouries has been a particular flashpoint with the authorities, with differences lasting for years over testing methods applied to comply with environmental regulations.

"These permitting delays have negatively impacted Eldorado's project schedules and costs, ultimately hindering the company's ability to effectively advance development and operation of these assets," the company said in a...