Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Greek miners protest against government decision threatening their jobs

Published 16/04/2015, 12:15
© Reuters.  Greek miners protest against government decision threatening their jobs

ATHENS (Reuters) - Thousands of workers at a Canadian-run gold mine in northern Greece protested in Athens on Thursday against a decision by the new leftist government to revoke the company's licence to develop the mine.

Eldorado Gold has spent about $400 million (268 million pounds) in the gold mine project in Skouries, in the lush forest of Halkidiki, since 2012. It wants to invest another $700 million by 2017 to build a processing plant and develop two mines in the area.

The investment has been a test case for Greece's will to attract foreign investment and kickstart its economy after years of austerity-induced recession.

Skouries has stirred violent clashes between the mine workers and opposing local communities who say that the investment would destroy the environment.

In a rare rally of this scale in favour of the project, thousands of workers worried they may lose their jobs gathered outside the environment ministry in their safety vests and helmets, waving flags which read "Yes to mines, yes to growth."

About 2,000 people are currently employed by the project and the company planned to hire another 1,000 by 2020, in a country struggling with record high joblessness.

"We will not negotiate our right for employment, for dignity," representatives of the workers said in a statement.

The workers plan to march to parliament later on Thursday. A protest against the project has also been called for the evening.

Prime Minister Alexis Tsipras's government, which took power in January on promises to end austerity and reverse privatisations, revoked Eldorado's licence in February, saying it wanted to examine whether it was in line with town planning and environment regulations.

Eldorado said the government's decision could force it to reconsider its investment plans.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.