Eldorado's vice-president, Nancy Woo, says opponents’ concerns are unfounded, as the gold mine will follow all the essential European Union and Greek environmental rules.
The company, with operations in Turkey, China, Greece, Romania and Brazil, plans to produce close to 705,000 to 760,000 ounces in 2013, up from 656,324 ounces in 2012.
Close to 40 masked intruders stormed into the Skouries project's facilities, causing extensive damage with firebombs and flammable liquid.
Citizens’ groups, backed by the radical leftist party Syriza that is now the second largest group in parliament, have been trying to wreck the project since 2011, when Eldorado was granted its exploration licence.
Despite ongoing opposition, Canada’s Eldorado Gold Inc. is gearing up to start production at its 95%-owned Hellas Gold Mine in Greece, as authorities reportedly have woken up to the potential of the country’s mining industry.
Gold miners were caught in an ugly slide in the S&P/TSX Composite Index today, which shed 215 points in reaction to another poor economic report coming out of the US.
Eldorado Gold Corporation (ASX: EAU) has commenced treatment of concentrate from the company’s Efemcukuru mine in Turkey after commissioning a concentrate treatment plant.
European Goldfields Ltd. (EGU) shares were halted on the Toronto Stock Exchange after a report the developer of mines in Greece has been approached about a takeover by Eldorado Gold Corp. (ELD).
Eldorado Gold reported Thursday that proven and probable gold reserves have increased to 18.7 million ounces, as measured and indicated gold resources increased to 22.9 million.
However, gold production declined from 164,928 ounces during the first-quarter 2010 to 148,577 ounces during the first-quarter 2011. Nevertheless, gold revenues were up 14% during the first quarter due to higher sales prices this year.
The group says it expects the Chinese mine to ramp-up to full production quickly
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