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Greece approves Eldorado Gold test drilling

Reuters
·1 min read

ATHENS (Reuters) - Greece has approved a technical study for test drilling by Canada's Eldorado Gold Corp <ELD.TO> at one of its mine fields, the energy ministry said on Monday.

Vancouver-based miner Eldorado has operating mines and development projects in northern Greece.

The study involves some 59 drills to further explore potential deposits at Eldorado's Mavres Petres site in northern Greece, aiming at prolonging the mine's lifespan, the ministry said in a statement.

Greece has been in talks with Eldorado on a revised investment plan to secure higher royalties from mining development projects and new jobs.

The ministry said on Monday that these talks are ongoing.

(Reporting by Angeliki Koutantou; editing by Jason Neely)