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Eldorado Gold wins appeal of Greek mining ban

Eldorado has put in about US$700 million since 2012 and planned to invest another US$1 billion to develop two mines at Skouries and Olympias sites in Halkidiki.

ATHENS — Greece’s top administrative court has annulled the government’s decision last year to revoke Eldorado Gold’s mining licence, according to court documents published on Wednesday.

The Canadian mining company had appealed to Greece’s top court to overturn the ban on its plans to develop gold mines in a forested area of northern Greece, in a case widely seen as a test of the leftist government’s approach to foreign investment.

The majority of the court’s judges ruled in favour of Eldorado in November, but a final ruling was pending.

Eldorado has put in about US$700 million since 2012 and planned to invest another US$1 billion to develop two mines at Skouries and Olympias sites in Halkidiki.

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