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Eldorado Gold Corp suspends much of its mine construction in Greece as permit delays continue

Eldorado's Greek assets make up about 30 per cent to 40 per cent of the Vancouver-based miner's net asset value, according to analysts' estimates.

Canadian miner Eldorado Gold Corp on Monday said it was suspending much of its mine construction and development in Greece after a year of confrontations with the Greek government that included permits being revoked and delayed by the state.

Eldorado said it would suspend construction at its Skouries project and warned that it would do the same at its Olympias project if it did not receive a permit by the end of March. It has halted development work its Perama Hill and Sapes projects but could restart at a later date.

It is also considering whether to halt future expansion of its Stratoni mine, which has around three years of life left.

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