Eldorado says extension given for arbitration period with Greece until April 2018

Canadian miner Eldorado gold said on Tuesday that a 90-day arbitration period to settle differences with the Greek state over its gold mine development plans in northern Greece has been extended by 60 days and will now end on April 6, 2018.

The request had been made by the arbitral panel and with the agreement of Hellas Gold S.A., Eldorado’s subsidiary, and the relevant ministries.

“The company remains confident that the current arbitration will demonstrate its adherence to all applicable laws and regulations,” Eldorado said in a press release, adding that it believes that “with open dialogue both parties will come to a mutually agreeable solution to enable full and efficient development of the Company’s Kassandra assets in the Halkidiki region.”