Eldorado Gold to cut workforce if installation license not granted by end-March

Eldorado Gold is cutting 600 jobs from its goldmine in Skouries in the next three months, while another 500 jobs in the Olympiada project were under threat if the company failed to receive the necessary installation license by the end of March, Paul Wright, chairman of the multinational company said on Tuesday.

Speaking to reporters, announcing the decisions to suspend investments in Skouries and of a possible suspension in Olympiada, Wright said that investments in the Stratonio mine, while the Perama and Sapes project in Thrace will be put under maintenance. The Skouries projects has a workforce of 682, of which 600 work for contractors.