Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Eldorado Gold, a Canadian-based gold mining company, has terminated activities at its mine in Skouries and will lay off 600 workers. The company announced on Tuesday February 12th 2016 the suspension of operations at a gold mine at Skouries (Northern Chalkidiki), one of the four major Greek sites where the company has facilities, due to protests by local residents who oppose the project on environmental grounds. As a result 600 workers are about to lose their jobs.
A government representative stated that the government does not succumb to blackmail and accused Eldorado Gold of cancelling their scheduled meeting on the day the closure was announced.
Eldorado Gold is a Canadian low-cost gold producer with over 20 years of experience building and operating gold mines in Europe, Asia and South America. The Skouries mine is the largest of the Cassandra Mines of northern Chalkidiki, Central Macedonia, and one of the largest gold deposits in Greece and in the world. The mine has estimated reserves of 5.3 million oz of gold and 246.4 million tonnes of ore grading 0.49% copper.
Eurofound (2016), Eldorado Gold, Closure in Greece, factsheet number 86103, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86103.
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