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Eldorado Gold shuffles boardroom, replaces chairman

Mining News - Published on Tue, 02 Jan 2018

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BIV reported that boardroom at Eldorado Gold Corporation will start the new year with a new look.

The Vancouver based mining company announced Wednesday evening it’s replacing chairman Robert Gilmore effective January 1.

George Albino will take over from Gilmore, who will continue on in the boardroom as a director.

Geologist Albino has served on the company’s board of directors since October 2016.

Meanwhile, director Jonathan Rubenstein will resign from his duties on January 1.

Rubenstein will not be replaced, leaving Eldorado Gold with eight directors.

Eldorado Gold is known as Greece’s largest foreign investor, sinking about $3 billion into its various Greek projects since 2012.

However, the company has been entangled in numerous government disputes, leading to halts in operations of its Skouries gold project in Greece’s north.

Eldorado revealed in November it was pushing the pause button on further development of the Skouries project following a dispute with Greece's Ministry of Energy and Environment.

The company announced it had launched legal action to “enforce and protect its legal rights” after accusing the government of failing to issue routine permits and causing “unjustifiable delays.”

Mr George Burns CEO of Eldorado said in a statement that changes to the boardroom would reduce costs for the company and ensure continuity in oversight and strategic direction for management.

Mr Burns said that “We thank Robby for his work as chairman and look forward to having him continue on the board as an independent director.”

“We also thank Jonathan Rubenstein for his years of dedicated service and substantial contributions to Eldorado."

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Posted By : Rabi Wangkhem on Tue, 02 Jan 2018
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