Police in Greece arrested 78 anti-mining protesters August 23 following Vancouver’s Eldorado Gold’s (TSX:ELD) decision to furlough about 2,000 employees at its Skouries gold and copper mine after its licence was suspended last week.
More demonstrations were expected late August 24 as mine workers announced a rally that would block streets and intersections in the Ierissos and Gomatio areas, near Eldorado Gold’s mines.
Greek authorities decided to temporarily suspend work at the mine, which is operated by Eldorado subsidiary Hellenic Gold, last week, on the grounds of technical standards violation. However, Eldorado said the required tests were indeed conducted, but at a facility in Finland, not on-site, as the country’s authorities demand. It also threatened legal action against the Greek government.
The mine has been bone of contention ever since Hellenic Gold was granted approval to mine in the northern peninsula, back in 2011.
Some claim the operation, owned 95% by Eldorado, may hurt tourism and the environment, while others believe it is good news for Greece, as it will generate new jobs and bring hundreds of millions into the struggling economy.
As of press time, shares of Eldorado Gold were trading at $4.37, down 2.46%.
