Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
Greece’s new conservative government will soon issue permits for Canadian miner Eldorado Gold’s development in northern Greece, its energy ministry said on Monday.
Vancouver-based Eldorado has two operating mines and two development projects in northern Greece but has struggled with permit delays at one location, Skouries, for years.
Its planned investment in Greece has been viewed as one of the biggest in the country in years.
Eldorado halted construction in November 2017 at Skouries, which has reserves of 3.7 million ounces of gold and 1.7 billion pounds of copper, citing mainly environmental permit delays.
The energy ministry said on Monday it would fully conform with rulings by the country’s top administrative court. A ministry official told Reuters the rulings concerned permits for the installation of equipment for an enrichment plant in Skouries.
Greece’s conservative government of Kyriakos Mitsotakis which took power in July has said it wanted the stalled gold mine investment to be revived.
(By Angeliki Koutantou; Editing by Louise Heavens)
Comments