Greek court annuls Govt. decision to revoke Eldorado Gold licence
The ruling comes only a few days after the Canadian miner decided to halt work at its mine in northern Greece, putting 600 jobs in the line.
The ruling comes only a few days after the Canadian miner decided to halt work at its mine in northern Greece, putting 600 jobs in the line.
New report prepared by environmental consultant firm, Hemmera highlights restrictive regulations, lack of clarity in land access and use policies.
The indefinite suspension of the Picadilly mine, in Canada's New Brunswick, is expected to cut the company's capital costs by $50 million in 2016 and $135 million over the next two years.
The announcement comes as the company is laying off about 50 workers in Lynchburg, Virginia, a bit more than half the jobs it has cut in the US as of late.
The strategy is to explore and build a mine in phases for the least amount of time and upfront investment dollars with subsequent investment based on continued success.
Recently released satellite images show that devastation from illegal gold mining activities in Peru is now reaching the Tambopata National Reserve, an important protected area in the country’s southern Amazon.
Move comes as Canada's Eldorado, Europe's largest potential gold producer, announced massive job cuts as a result of government bureaucracy.
Three of the world's top mining companies are now trading over 90% below their boom year highs as the 2016 commodity sell-off gathers pace.
The decision grants Rosia Montana protection from industrial activities, including mining.
Cenovus and Suncor fund cleantech entrepreneurs to accelerate environmental and economic solutions