New deal signed with Eldorado Gold

The government signed on Friday a revised contract with Eldorado Gold Corporation, covering its mining operations in northern Greece, where it has faced repeated stalling over licensing delays and environmental concerns.

Eldorado has been in talks with the Greek government on a revised investment plan that would secure higher royalties from mining development and new jobs.

Shares in the company gained nearly 9% on the Toronto Stock Exchange on the amended agreement that includes an investment plan for the miner's Skouries, Olympias and Stratoni/Mavres Petres mines and facilities in northern Greece, known collectively as the Kassandra Mines.

The contract will now allow for the completion of construction at Skouries and the transition of the project into production, the expansion of Olympias to 650,000 tons per annum and further investment in exploration at...