Eldorado Gold announces receipt of Skouries and Olympias installation permits
Eldorado Gold confirms receipt of electromechanical installation permits for its Skouries project and an installation permit for its Olympias mine from the Greek Ministry of Energy and Environment. At Skouries, Eldorado said it intends to carry out certain construction activities that were suspended in 2017, including building the mill enclosure once permitted, to protect the plant assets. Capital expenditure for asset protection works is estimated to be approximately $5M. At Olympias, the permit allows for installation of an upgraded electrical substation and construction of support facilities, which will be considered as part of Eldorado's annual planning process. Eldorado said it is working with the Greek government to achieve the necessary conditions required to restart full construction at the Skouries Project. "The Ministry and the Company are collaborating on a mutually acceptable path forward to build safe, modern, world-class operations in Greece, including approval to implement dry stack tailings at Skouries. This best-available technology would reduce the project's environmental footprint by approximately 40% and decrease the site's water consumption," the company said. George Burns, President and CEO of Eldorado Gold added, "We are greatly encouraged with the engagement we've had to date with the Greek State and look forward to working constructively with the relevant Ministries. We believe the Skouries project offers significant value for our investors and benefits to the local communities and the Greek economy, while adhering to the highest environmental standards."