Eldorado Gold Mine in Evros Nears OK

eldoradoWithin the next few weeks, the Canadian company, Eldorado Gold Corp.’s investment in Perama, Evros, is expected to be given final approval by the Greek government to proceed, over the vociferous protests of some local residents who say it will damage the environment and hurt tourism, although backers say it will bring in critical jobs during Greece’s crushing economic crisis.

The approval of environmental impact assessment, which now requires only one signature, and the signature of the Minister for the Environment are the last steps for the company to begin work on a 150 million euros  seems to be the final step in the process of 150 million euros ($200 million) investment.

This approval will lead to the issuance of environmental conditions’ permits and licenses for the mine in Perama. Then a technical report will be submitted to the competent authorities. Its approval will be the next step for the issuance of mining permits.

Greek Institute of Geo research, Perama ‘s subsoil has gold deposits of a value of 2 billion euros ($2.66 billion) along with an estimated 800 million euros ($1.065 billion) analysts have said.