According to a press release by Kinross Gold Corporation the Greek Government has undertaken significant initiatives of putting together a viable long-term structure for the re-opening of the Stratoni mines in Chalkidiki. Mr. Christos Pachtas, Deputy Minister of Economy and Finance, has undertaken the initiative of convening at a joint meeting, the representatives of the “new plan”, in order to set in motion the legal processes for the completion of a new company structure.
The new structure includes a major Greek mining enterprise, as well as a group of Group construction companies, all of which possess the know-how and resources to ensure continuous and successful operation of the mines and their future development. Kinross Gold Corporation, which has contributed and supported the Greek Government’s initiative for a viable solution, will also participate in the new plan, as well as local prefectural and municipal Authorities, a fact that reflects the social consensus and acceptance of the new structure as well as th elocal support for the future development of the projects.
As part of the overall agreement, and with Kinross’s commitment of 10 million US dollars for the support of the new plan, Kinross Gold Corporation will retain the mineral rights at Skouries, with the prospect of conducting a systematic exploration and evaluation of the deposit.
For the transitional period and until the undertaking of the mines by the new structure, Kinross Gold Corporation, as pledged to the Greek Government, will maintain the operation of the water treatment plant for the protection of the environment, thus safeguarding the public health and safety in the region. Besides TVX Hellas, in order to protect, its interests has filed a petition for suspension of payments.