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Greece ratifies amended investment agreement with Eldorado Gold

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Mar 17, 2021 Precious Metals News Comments Off on Greece ratifies amended investment agreement with Eldorado Gold


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(Wallace Refiners) – Eldorado Gold announced that today the Greek Parliament voted to approve and ratify the amended Investment Agreement that was signed on February 5, 2021 between the Hellenic Republic and Eldorado’s wholly-owned subsidiary, Hellas Gold S.A.

According to the company’s statement, the Agreement amends the 2003 Transfer Agreement and provides a modernised legal and financial framework for the further development, construction and operation of the Skouries, Olympias and Stratoni/Mavres Petres mines and facilities in northern Greece.

The company said that the amendments in the Agreement take effect once published in the Greek Government Gazette, which is expected shortly.

Eldorado noted that the Agreement is mutually benefitial to Eldorado and the Hellenic Republic. For Eldorado, it provides investor protection mechanisms including a permitting framework similar to other large-scale foreign investment agreements in Greece. For the Hellenic Republic, it provides enhanced fiscal revenues, environmental benefits, and community development opportunities.

Eldorado is a gold and base metals producer with mining, development and exploration operations in Turkey, Canada, Greece, Romania, and Brazil.



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.



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