The Greek Council of State has ordered Vancouver-based Eldorado Gold Corp to stop cutting trees on its mining properties in the region of Halkidiki, Northern Greece. The order was officially announced on Wednesday and the company commented that other exploration and operation activities of the company have not been affected by the supreme court’s decision.
Following a lawsuit filed in May by the local people against the legality of the decision of the Greek Ministry of Environment allowing the company to proceed with cutting trees in the Stratoni forest region, the Council of State decided against the Canadian company, which has seen its shares drop by almost 7% after the news.
According to Reuters, Eldorado says it is working with the respective Greek ministries to show it has all the permits needed to legally continue cutting trees in Halkidiki, and it expects the order to be revoked once it files the required documents with the court.
People in the nearby region of Stratoni have protested against the activities of the company for being hazardous both to the environment and to human health. On the other hand, the General Confederation of Greek Workers (GSEE) claimed the Council’s decision would have a terrible impact on the local economy, since hundreds of workers would lose their jobs.
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