Canada's Eldorado does not see Perama approved before elections

Thu, Jan 16 2014

(Reuters) - Eldorado Gold Corp's Perama Hill project in Greece is not likely to be approved before local elections scheduled for mid-year, the gold miner said on Thursday.

The last time the Vancouver-based company gave an estimate for the project's environmental impact assessment, their timetable was the second half of 2013.

Eldorado's larger Skouries project, also in northern Greece, has sparked a major political conflict, setting the country's desperate need for investment against the interests of the tourism industry and environmental activists.

The miner said Skouries "will continue in full development mode" this year.

Perama Hill's proven and probable gold reserves were 975,000 ounces as of December 31, 2012.

(Reporting by Allison Martell; Editing by Jeffrey Benkoe)