January 25, 2016 / 12:49 PM / 2 years ago

CORRECTED-Eldorado sees charge of as much as $1.6 bln from Greece writedown

(Corrects paragraph two to say the company has won the appeal, and not awaiting an official decision)

Jan 25 (Reuters) - Eldorado Gold Corp, which suspended mine construction and development in Greece after a year of confrontations with the country’s government, said it expects to write down the value of its assets in the country by $1.2 billion-$1.6 billion.

The company has already won its appeal over a decision on a mining permit in northern Greece, which the government had revoked on environmental concerns.

A majority of judges of Greece’s top administrative court, which Eldorado had appealed to annul the government decision, ruled in favor of Eldorado in November. (Reporting by Manish Parashar in Bengaluru; Editing by Shounak Dasgupta)

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