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UPDATE 1-Greece to sign revised contract with Canadian miner Eldorado on Friday

· 02/05/2021 06:04
UPDATE 1-Greece to sign revised contract with Canadian miner Eldorado on Friday

Adds signing ceremony, background

- Greece will sign a revised contract with Canada's Eldorado Gold Corp ELD.TO on Friday covering the group's mining operations in the north of the country, an energy ministry official said.

Eldorado's projects in northern Greece have repeatedly stalled over licensing delays and environmental concerns.

Vancouver-based Eldorado has been in talks with the Greek government on a revised investment plan that would secure higher royalties from mining development and new jobs.

Energy Minister Kostas Skrekas and Eldorado's CEO George Burns will sign the revised deal at a ceremony in Athens later on Friday, the official said, without giving details.

Greece's conservative government has pledged to unblock foreign investment to lift an economy that shrank by a quarter during a decade-long financial crisis, and help recovery after the coronavirus pandemic.


(Reporting by Angeliki Koutantou; editing by James Mackenzie)

((angeliki.koutantou@thomsonreuters.com; +30 2102214608; Reuters Messaging: angeliki.koutantou.reuters.com@reuters.net))