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Canadian Gold Mining Company Invests in Greece

6 years ago88 views

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Canadian Eldorado Gold Corporation plans to create thousands of jobs and billions in long term investment in Greece in mining projects. The company sees vast potential in Greece's known but so far undeveloped mineral resources.

The president and Chief Executive Officer of Eldorado Gold Corporation, said on Monday the company's investment in Greece was what the debt-stricken country needed to help emerge from the crisis.

[Paul Wright, President and CEO, Eldorado Gold Corp.]:
"We firmly believe that our investment in this country is exactly what is needed to help break the current negative cycle of austerity and bring much needed employment, foreign investment and tax revenue to Greece."

Eldorado said on Sunday it has agreed to acquire European Goldfields as it expands its asset base in Greece and Turkey.

[...]

Wright said the Canadian international gold producer will create 2,000 jobs in the country both for the operation of mines and for exploration.

[Paul Wright, President and CEO, Eldorado Gold Corp.]:
"Eldorado intends to invest in the order of 1.5 billion euros over the next several years in new mine development and infrastructure."

He also said the company was committed long term to remaining in Greece where it is believed there is vast potential.

[Paul Wright, President and CEO, Eldorado Gold Corp.]:
"The north east of Greece is unique to the extent that it has such large identified mineral resources none of which are being utilized for the benefit of society."

Wright says there were some problems to one future project in Perama Hill, in the region of Thrace, over fears for the environment.

[Paul Wright, President and CEO, Eldorado Gold Corp.]:
"We made significant modifications to the project concept to take into consideration those concerns."

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