Stratoni

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.

Eldorado Gold said on Thursday it would freeze investments in its Skouries gold mine in Greece, taking a tough stand in its battle with the country's government.

Eldorado's investment is one of the biggest in Greece and has long been viewed as a test of the country's resolve to attract foreign capital.

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.

Greece plans to start an arbitration process this month to settle its differences with Canada's Eldorado Gold Corp over its gold mine development plans in northern Greece, its energy minister said on Thursday.

Scrawled on the homes of the village of Megali Panagia in northern Greece are slogans emblematic of the deep rift caused in this society by a controversial Canadian gold mining project.

"Goldmines are a curse for every nation," reads one -- others are more profane.