Complex engineering and metal-work discovered beneath ancient Greek ‘pyramid’

Latest find on Cyclades’ Keros includes evidence of metal-working and suggests the beginnings of an urban centre, say archaeologists.

More than 4,000 years ago builders carved out the entire surface of a naturally pyramid-shaped promontory on the Greek island of Keros. They shaped it into terraces covered with 1,000 tonnes of specially imported gleaming white stone to give it the appearance of a giant stepped pyramid rising from the Aegean: the most imposing manmade structure in all the Cyclades archipelago.

But beneath the surface of the terraces lay undiscovered feats of engineering and craftsmanship to rival the structure’s impressive exterior. Archaeologists from three different countries involved in an ongoing excavation have found evidence of a complex of drainage tunnels – constructed 1,000 years before the famous indoor plumbing of the Minoan palace of Knossos on Crete – and traces of sophisticated metalworking.

The entrance staircase from above: the sea level was much lower in the early bronze age

The Dhaskalio promontory is a tiny island as the result of rising sea levels, but 4,500 years ago was attached by a narrow causeway to Keros, now uninhabited and a protected site. In the third millennium BC Keros was a major sanctuary where complex rituals were enacted. Earlier excavations by the team from the University of Cambridge, the Ephorate of Antiquities of Cyclades and the Cyprus Institute have uncovered thousands of marble Cycladic sculptures – the stylised human figures which inspired western artists, including Pablo Picasso – and which appear to have been deliberately broken elsewhere and brought to the island for burial.

Maintaining as well as constructing the settlement would have taken a huge communal effort. The now-deserted slopes of Dhaskalio were once covered with structures and buildings, suggesting that 4,500 years ago it was one of the most densely populated parts of the islands – despite the fact that it could not have been self-sufficient, meaning that most food, like the stone and the ore for metal working, had to be imported.

The first evidence of metal-working was found in excavations 10 years ago. The new finds have uncovered two workshops full of metalworking debris, and objects including a lead axe, a mould for copper daggers and dozens of ceramic fragments from metalworking equipment including the mouth of a bellows. Archaeologists will return to excavate an intact clay oven, found at the very end of the last season.

Joint director of the excavation Michael Boyd, of the University of Cambridge, said metalworking expertise was evidently concentrated at Dhaskalio at a time when access to both skills and raw materials was very limited.

“What we are seeing here with the metalworking and in other ways is the beginnings of urbanisation,” he said. Far-flung communities were drawn into networks centred on the site, craft and agricultural production was intensified, and the architecture became grander, gradually overshadowing the original importance of the sanctuary.

Excavated soil reveals food traces including pulses, grapes, olives, figs and almonds, and cereals, including wheat and barley. Evi Margaritis of the Cyprus Institute said: “Much of this food was imported: in the light of this evidence we need to reconsider what we know about existing networks to include food exchange.”

A researcher holds a mould for making a spearhead from molten copper.
 A researcher holds a mould for making a spearhead from molten copper. Photograph: Michael Boyd

The pyramid of terraces would have blazed in the Greek sun, visible from far off, covered in white stone imported from Naxos 10 kilometres away. The complex of drainage tunnels was discovered when archaeologists were excavating an imposing staircase in the lower terraces: research continues to discover whether they were for fresh water or sewage.

Lord Renfrew, joint director of the excavation, former Disney professor of archaeology at Cambridge and now the senior fellow at the McDonald Institute for archaeological research, first landed on Keros as a student and has returned often throughout his long career. He believes the promontory may originally have become a focus for development because it guarded the best natural harbour on the island, with wide views across the Aegean.

The excavations are being recorded digitally, using the iDig programme running on iPads for the first time in the Aegean. This creates three-dimensional models using photogrammetry recording of the entire digging process, giving everyone involved access to all data in real time.

  • This article was amended on 18 January 2018 to correct an erroneous reference to the palace of Knossos, which is Minoan, not Mycenaean.

source: www.theguardian.com

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Gold cracks $1300 to finish year up 12.5%- Best performance since 2010

Gold bulls have something to cheer about today even before the champagne corks fly on Sunday night.

In afternoon trading on Friday, the last business day of the year, gold was bid up to $1306.50, before dropping to $1303 at 13:53 EST. It was the first time since August, corresponding with a terrorist attack in Barcelona, that gold crossed the important $1300 an ounce thresshold. The yellow metal hit a 52-week high of $1346 an ounce in early September but then quickly sold off. February Comex gold was last trading at $1307.10, up .76% on the day.

On Tuesday spot gold reached a three-week high of $1281.03 in post-holiday trade on geopolitical concerns, while February gold futures hit $1285.10.

The gains continued yesterday, with spot gold closing in New York at $1294.70.

Today’s price jump means gold has posted a monthly rise of 1.51% and a yearly advance of 12.53% – its best annual performance since 2010.

A wilting US dollar, political tensions and less concern over the impact of US interest rate hikes, all fed into the gold rally.

Reuters noted the dollar is heading towards its worst year since 2003, “damaged by tensions over North Korea, the Russian scandal surrounding U.S. President Donald Trump’s election campaign, and persistently low U.S. inflation.”

The ICE U.S. Dollar Index dropped 0.5% on Friday, deepening its 2017 loss to 9.7%.

According to analysts the $1300 target will be the psychological level to reach in the new year.

“Look for continued steady gold over the 200-day moving averages and as gold is under invested. If we close over $1,300 more asset allocators joining the long side,” Kitco quoted George Gero, managing director at RBC Wealth Management. “Gold is still much about the dollar weakness, bonds — ten-year [yields] not moving after rate hike — and tax season in full swing.”

 

SOURCE: mining.com, Andrew Topf , 30/12/2017

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Thessaloniki Port Sold to German Fund

Although delayed for a few days, the announcement concerning the privatization of the Thessaloniki port came late on Thursday, by the country’s liquidation fund.

The Hellenic Republic Asset Development Fund has announced the sale of its 67% stake in Thessaloniki Port to Deutche Invest Equity Partners, Belterra Investments and CMA CGM’s ports division, Terminal Link.

The German-led joint venture – called South Europe Gateway Thessaloniki (SEGT) – beat out bids from International Container Terminal Services Inc. (ICTSI) and DP World to win the concession agreement.

HRADF had asked the bidders to improve their first-round offers in April, and SEGT’s proposal came out ahead.

The price of the shares acquisition was $275 million, and the contract requires a further $215 million investment in the port within the next seven years, along with concession revenues. In total, the agency estimates that the agreement is worth $1.3 billion.

“The exploitation of the Thessaloniki port along with the positive impact the successful conclusion of the exploitation agreement of Piraeus Port already has, form an axis of growth and development that crosses vertically our country, further enhancing the role of Greece as the European gateway to international companies for trade and cruise,” said HRADF chairman Aris Xenofos.

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Market test set to determine the course of PPC plant privatization

The agreement for the sale of lignite-fired power plants owned by Public Power Corporation was sealed last Thursday in Brussels, and the government’s next challenge on the matter is attracting investment interest, otherwise it will have to sell hydroelectric units too – its last line of defense in the controversial issue of reducing PPC’s lignite capacity.

Although Energy Minister Giorgos Stathakis is optimistic about the outcome of next month’s market test, there is no sign from investors in that direction. People active in the domestic power market appear certain about the opposite – that the failure of the market test will bring them closer to their goal of entering the hydroelectric market.

Domestic investors start from the view that “lignite as a form of fuel is not productive” in the context of European Union’s policy to reduce carbon emissions, and go as far as saying they will abstain from the December market test, which is intended to gauge investor interest in the plants to be privatized.

Given that this will constitute a major shift in the domestic power market, and until the issues regarding the sale of the plants become clear, investors will keep monitoring developments and no one can rule out a change in their attitude.

Speaking to local investors, one gleans a variety of positions on the matter. The most emphatic attitude comes from Italy’s Edison, which cooperates with Hellenic Petroleum through Elpedison in electricity production: Edison sources say the firm is not interested in investing in lignite units and expect that other investors have a similar attitude.

The mind-set is similar at Hellenic Petroleum, with a source telling Kathimerini that “the EU policies on coal render the acquisition of lignite units a negative investment,” adding that the participation of a European investor in the market test would come as a surprise. Mytilineos sources echo the same view, adding the firm will not take part in the tests.

However, Terna does seem interested in the sale of the PPC lignite plants, while Copelouzos appears to be in two minds about it, having previously shown an interest in cooperation with China’s Shenhua. Sources say the Chinese interest in the Greek lignite plants has diminished.

 

source: http://www.ekathimerini.com,  by Chryssa Liaggou,  26/11/2017

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Keith Neumeyer: The numbers sound crazy, but I predict $8,000 gold & $130 silver

Keith says the reason the resource markets are lagging is due to institutions not entering the metal market. Until there is a crack in the major markets, we will not see institutional money flow into the mining equities. The market is quite similar to the year 2000 when it was flat and then took off. History is repeating itself. We need some sort of correction and sane-ness to enter the market. He feels the coming bull market will be quite impressive.

He thinks the mining sector over the next decade will become a much more efficient business. Miners will be in a rising metal price environment. He’s not concerned about being wrong in the short term to be right in the long run. When the market turns, it will turn quickly.

The current silver price is almost a joke. We’ve seen lead, zinc, nickel, lithium, and cobalt make significant price rises but gold and silver remain flat. Silver is ignored as a cheap gold substitute, and that is a wrong assumption. Silver is a strategic metal needed in all sorts of applications, and modern society would not function without it. It’s shocking that this hasn’t been noticed by more people as a result production continues to decline.

Platinum metals are not that interesting to Keith as they are small, illiquid markets. They are quite volatile, and platinum jewelry looks much like silver so why not just buy silver. Now that the world is moving toward electric vehicles he thinks the reasons for owning platinum have declined.

 

Palisade Research, from http://www.mining.com

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Mining equipment + Internet of Things

In the 2011 film Limitless, a struggling writer obtains a mysterious pill that enables him to access 100 percent of his brain abilities, helping him to reap monetary benefits by becoming a financial wizard. For the mining industry, that mysterious pill is the Internet of Things.

The introduction

Widely credited to Kevin Aston while working at Proctor & Gamble in 1999, the Internet of Things (loT) refers to a giant network of connected objects or “things.” These connected things, which can vary from a smartphone to a mining truck, utilize embedded technology to transfer data over a network without requiring human-to-human or human-to-computer interaction. In fact, the concept aims to utilize analytics in order to replace the human decision-making process altogether.

The mining industry has turned the innovation dial up in the past few years, implementing newer and more diverse technologies to solve age-old questions. The big potential for loT in the mining industry lies in the equipment it uses.

In recent years, mining companies have begun equipping machinery with unique sensors and software to collect data from everyday activities. This “big data” is now emerging as potential information that can be analyzed and utilized to allow manufacturers the ability to predict and eliminate potential problems. The Internet of Things has the power to take mining equipment and operations to new heights.

Technology research consultant Gartner Inc. expects the number of connected products in the mining industry to rise from 24 million in 2014 to 90 million by 2020. According to the consultant firm, the 25 percent increase in mining connectivity is among the fastest in the industry sectors.

New era for mining

The Internet of Things is expected to ring in a new era for mining operations and equipment. With the way things are going for the commodities sector, it couldn’t be any sooner.

“Ten years ago, these were dumb bits of equipment. If the computer in the office fell over, who cared? Now underground mines are full of optical fiber and bits of equipment that talk to one another,” said Mike Elliot of EY in Australia.

For one, loT will assist in the predictive/preventative maintenance for mining vehicles, which has become increasingly important in recent times. Through the use of sensors, companies will have the ability to monitor everything from fluid temperatures, engine speed, gear position and brake pressure. Information from the sensors will be relayed to a remote monitoring center that will then alert the equipment operator of potential trouble before it happens. The technology will provide data analytics of the truck performance data to prevent unnecessary maintenance events and to reduce the time to repair the truck during unplanned maintenance events.

Similar to the film, loT also has the ability to empower mining equipment in order to function and operate with optimal efficiency.

“Lots of these machines have been sending data for more than 30 years, but we did not have the ability to use it,” says Al Frese, solutions and technology manager for mining sales and support at Caterpillar. “Now we have that and can do it effectively across many different sites.”

US-based Caterpillar Inc. is a major player investing in the Internet of Things. Last year, the company spent $2.14 billion on product-oriented research and development alone.

Rob Charter, a group president at Caterpillar, has said that the company wants to surround customers with a tech-savvy suite of products and services. It’s about moving beyond simply making machines, he’s noted.

“Originally, when we built product, it was about the product,” Charter said. “What we think about all the time these days—and you’ll see it more and more in people’s thinking—is how do we make a customer successful? And if they’re successful and they rely on us, then we’re successful.”

Unlimited potential

The Internet of Things is expected to take the mining industry into a new helm of operational excellence.

In its 2013 report called Disruptive Technologies: Advances that will Transform Life, Business and the Global Economy, the McKinsey Global Institute stated that the Internet of Things will be largely used by the mining industry in the near future for data collection, monitoring process, decision-making and optimizing workflows.

For the mining industry, the Internet of Things holds unlimited potential as the future could consist of flying drones, automatic drill rigs, trains and driverless trucks. The technology will not only optimize processes, but it will prevent accidents, predict maintenance and even help companies conserve their resources like water and electricity.

NFL coaching legend Vince Lombardi once said: “Perfection is not attainable. But if we chase perfection, we can catch excellence.”

With the mining industry adopting new technologies and taking loT under its wing, the industry could reach new levels in coming years.

 

source: http://www.miningglobal.com, By STAFF WRITER . Sep 14, 2015

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Arbitration has begun

The arbitration between the State and Hellas Gold officially started yesterday, after the arbitration panel was established.  According to sources the position of presiding arbitrator has been taken by Konstantinos Menoudakos, former president of the Council of State and current president of the Hellenic Data Protection Authority. Mr. Menoudakos was appointed to the post of presiding arbitrator by the President of the Hellenic Supreme Court in accordance with the arbitration clause and was accepted by both arbitrators, Mr. Chryssikos and Mr. Lykoudis who had been appointed some time ago by the State and Hellas Gold.  In practical terms the results of the arbitration process are expected to be known shortly, within 90 days at most.

The key topic is the metallurgy plant at Madem Lakkos, which in effect relates to integration of Hellas Gold’s operations in the Halkidiki area.  The arbitration notice states that the technical study for the metallurgy plant in the Madem Lakkos area at Stratoni which will be used to process concentrates from Olympias and Skouries, which was filed in December 2014, is not complete and so breaches the transfer agreement and the project’s environmental Terms and conditions.  For its part the company points out that it fully believes that the technical study is fully documented and in accord with the transfer agreement, the business plan and the approved environmental terms and conditions for the project.

 

source: Newspaper Naftemporiki, 3/11/2017

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This new method for getting gold from e-waste may be just what miners need

A small Canadian company’s new way of extracting gold and other precious metals is showing big promise for the mining industry, and for efforts to deal with the growing problem of electronic waste.

The CEO of Vancouver-based EnviroLeach Technologies says the new approach is also the biggest innovation for conventional gold mining in 150 years.

“The advent of cyanide in the 1870’s was the biggest innovation in all of mining history, and this challenges that,” says Duane Nelson. “Our technology has equal-to or better leach kinetics than cyanide, and a much broader base of available ores and concentrates that it can be used on. So this is potentially a game changer for the mining sector.”

New water-based extraction process aims to become an alternative to acid- and cyanide-based leaching.EnviroLeach’s new plant, a joint venture with electronics giant Jabil Inc., will open in December in Memphis, Tennessee. The 650,000 square foot plant will shred and pulverize discarded circuit boards and other electronic waste. Then, using proprietary technology, Jabil will extract gold and other precious metals from the e-waste to manufacture electronic components for Dell, Hewlett-Packard and other clients.

Because it’s water-based and uses harmless ingredients, Nelson says the process is far more environmentally friendly than extraction by cyanide, hot acid digestion or other conventional methods.

“You can put your hand in it,” says Nelson. “You can effectively drink the stuff,” he says, adding it’s also less expensive because the solution can be used repeatedly.

Applying inorganic electro-chemistry research methods, Nelson says EnviroLeach’s team of 20 scientists “stumbled upon” the new technique. Ore concentrate or pulverized e-waste is mixed with ordinary water containing five ingredients. The solution is then pumped through cells of small, man-made diamond plates and then zapped with electricity. The gold and other precious metals separate and are extracted from the solution, which can be recharged and used again.

This new method for getting gold from e-waste may be just what miners needWith environmentalists pressuring governments to deal with the growing mountains of e-waste around the world, EnviroLeach and Jabil shareholders see huge profits in recycling the 50 million tonnes of e-waste dumped in landfills every year.

But Nelson says the new process can also unlock riches for conventional mining. Unlike cyanide or hot acid digestion, Nelson says the new process doesn’t damage equipment. More importantly, it could be used in locations where cyanide is banned.

“So there are hundreds of mines out there that could benefit from this technology,” he says.

Does cheap, effective and environmentally safe mining sound too good to be true? Nelson has this response for the skeptics.

“You know, cyanide sounded too good to be true in the 1800’s. Personal computers sounded too good to be true,” he says. “It’s innovation, and the mining sector has not been one of the most innovative sectors out there.

“The environment will benefit, the mining sector will benefit, our shareholders will benefit. I think everyone is going to benefit from this.”

source: http://www.mining.com, by Des Kilfoil
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Scientists use gold to improve microlaser technology

By attaching gold nanoparticles to the surface of a microlaser, scientists at the University of Southern California Viterbi School of Engineering demonstrated that it is possible to create frequency combs that take up less space and require 1000 times less power than current industrial comb technology.

Frequency combs are large and highly energy-consuming devices that can create a rainbow of light from a single colour and are generally used to improve cybersecurity, GPS systems and the detection of toxic chemicals.

In order to create systems that could enable residential or portable applications, the USC researchers decided it was important to figure out how to reduce both the size of the device and the power requirements for wavelength generation. They found their answer in gold specks 1/100,000 the size of a human hair.

By attaching gold nanorods to the surface of a single microlaser, the research team led by Andrea Armani, a professor in the Mork Family Department of Chemical Engineering and Materials Science, was able to run lab tests which showed that frequency combs can function with only milliwatts of input power, which decreases the system’s footprint and takes the technology from the lab to real-world applications.

The way it works is that the interaction of the light from the microlaser with the gold particles results in many additional wavelengths being generated, a process that is further improved by a polymer coating on the nanoparticles.

“The role of the gold nanorods is to increase the intensity of the light circulating in the device,” co-lead author Vinh Diep said in a press release. “The higher-intensity light can then interact with organic molecules on the surface of the gold to generate other wavelengths of light. This combined effect allows for the comb generation to begin at a much lower power than the traditional pulsed-laser approach.”

Diep also explained that by using the gold nanorod coating, they observed a comb that can span over a wavelength range of 300 nanometers. Without the gold nanorods, a comb could not be generated at the same power.

“Demonstrating a large range shows the device’s strong potential for applications in developing a portable chemical spectroscopy system, where the chemical signal only occurs at a specific wavelength, and the accuracy is dependent on the light source,” the group of researchers concluded.

 

source: mining.com,Valentina Ruiz Leotaud

photo by Gerd Altmann, Pixabay.

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Th. Kefalas: All those who want to profit at the expense of the environment should no longer be around

It was only a few days before the Eldorado Hellenic Gold case erupted when the Greek Mining Enterprises Association organised a presentation on the mining industry’s potential as a sector of the economy today. Mining activity is an important sector and currently provides 115,000 jobs in Greece, plans to invest 1.3 billion in infrastructure and assets by 2018 but has also restored 35% of the area used for mining (from 1979 to today), ie 65,000 acres of land. Nonetheless, the industry as a whole seemed to adopt a policy of hiding from publicity or, at least, a communication policy of complaining. It already seems to be coming more to the forefront. And promoting itself, as environmental impact is the main issue and with the Eldorado case it has recently taken initiatives that have been promoted in Greece (Vagoneto in Parnassos, walking trails and the Milos Mining Museum, the circuit for motorcycle racing at the Dionysos Marbles, plans for Lavrio), with the idea of upgrading tourism. And it has also undertaken large-scale landscape restorations after finishing varies quarrying or mining operations. So, because the Eldorado debacle will fade from the public eye at some point, but we will still have mining activity, we contacted Thanassis Kefalas, President of the Greek Mining Enterprises Association, for a broader picture.

If today, in September 2017, you start a discussion about mining activity in Greece and its environmental footprint, you cannot overlook the fact that we are talking about this after the Eldorado Hellenic Gold case erupted. Do you believe that Greek public opinion will be able to approach the issue seriously in the near future?

The issue of Hellenic Gold is indeed the most important current subject for the mining industry. However, the ball is in the court of the two competent authorities, ie the company itself and the Greek State. For us it is worrying if an investment which, and I stress, has so far been environmentally licensed, is not implemented.  

By “for us”, you mean the Greek Mining Enterprises Association which, I assume, has Hellenic Gold as one of its members.

Yes, indeed, it is a member. We believe that no stone should be left unturned so that the investment can complete the licencing process and start.  

So we should consider that that is why the GMEA offered its services to restore contact between the two sides…

That is exactly the reason we offered our services. And that’s why we think that someone with accumulated knowledge – and our members have this technical experience – can help to bridge the gap, and can also contribute to a more active dialogue.

And you think this dialogue has broken down?

I would like to note that the company have asked for and accepted the need for this, and the relevant minister has announced that he is open to a dialogue and received representatives from the company a few weeks ago. I will stick to the external signs as I am not aware of the details. I hope that a final solution will be found as it is not in anyone’s interests for there to be no solution. There are workers, benefits for the national economy and we must also take into account the signs sent to foreign investors.

You mean that this case reflects on us as a country, and will continue to reflect on us?

I mean that the issue is by now significant both inside and outside Greece and is an investment that is being watched by everyone.

Does this episode drag you, as a sector, down?

In the sense that it creates an environment for discussion that is not positive, yes. But as a sector, we remain committed to what we think we can bring to the Greek economy.

And that is?

To stay with our current footprint, which is 3.4% of GDP. To be able to make the investments we have planned.

For example, I would mention that, on the basis of statistics gathered by the Foundation for Economic and Industrial Research (up to 2013 unfortunately, we know that statistics in Greece are usually very late…), mining companies invest around 200 million Euros a year. Consistently. Even during the crisis.

So you are saying that this investment plays a stabilising role?

The number I gave you relates, consistently, to the period 2009-2013. I would say it is indeed stabilising. We are here, as a sector, and we continue to be so. You know, Mr. Papayannidis, by its nature the mining industry takes a long-term view. By its nature it makes conservative choices.

What do you mean by “conservative choices”?

That if we have not made a very good business plan and if we have not researched the technology and the extraction method we will use, and so on, thoroughly, we will not have an easy start. There is a saying “two measurements, and one cut!”. You measure the cloth twice, and only then do you take out your scissors. Because if you start to cut the cloth, it is not easy to go back.

And the infamous 5th Chamber of the Council of State? Do you feel any progress is taking place? Any “Learning curve”…?

Can I tell you something? I would not call it “infamous”. The 5th Chamber, if we look at it calmly, brought about something good too. It shook Greek society and the business community, and made it clear that the environment is not for free, it’s not without a cost. I am not ecstatic about the role it played, but looking forwards a bit, I would say that we have been seeing something like a pendulum: from an approach that considered the environment as free, we went to the most difficult approach. It’s time to find a balance!

Slowly: is the pendulum swinging back?

Yes, definitely! There have been decisions like that – and I don’t just mean the Hellenic Gold decisions. I have seen others as well – other decisions that set things out correctly, that sort the wheat from the chaff.

Which means?

It means that all those who want to profit at the expense of the environment or at the expense of the law, should no longer be around.

Could you be clearer here?

They should cease to exist. Either because they comply or because they stop operating.

And local societies’ views of things, how is that going?

Can I say that we see progress in some areas, and areas where there is a core of resistance which is not always based on the actual facts. It will sound strange to you, but bauxite works were never the subject of any resistance from the local society.  

Local societies and coexistence? Never?

Criticism, yes. Choices, of course, but not resistance.

Red mud in Itea?

That was from Aluminium of Greece’s operations, in the past. But now the company has developed new methods, backfilling materials, with appropriate technology. But there were no reactions like those we have been experiencing in other regions recently. The local societies of Boeotia and Fokida see bauxite and its derivatives (alumina, aluminium) as being part of their historical tradition over the last 60 years and they look at the continuing mining activity in the area in the same way. Milos, again, went through a period of intense controversy (with gold then), but today you will hear the mayor of Milos (in international and Greek conferences) presenting the island’s economy as a model of balanced development. I heard him say “We did not go through a crisis”.

Do you want another 2 or 3 examples? There is now a climate of confrontation in Chalkidiki.

Hmm, more than just confrontation!

But for decades tourism developed and coexisted with mines. Ormylia, Gerakini, in Cassandra, where Hellenic Gold is now. These coexisted!

And, for you, when did the equilibrium break down?

When, for a variety of reasons, the old Cassandra mines looked like they might not survive. There have been, if you remember, years that they basically ceased working. And instead of going smoothly, from the time of Madem Lakkos and the new Olympias, to mining the deeper layers, there was a break. If this mining tradition had not been interrupted, things would have gone on smoothly. I am not being critical of the management, but this is a macro observation. When the industrial tradition stops in an area and people build houses next to the factories, these factories will find it difficult to start up again.

Nowadays, the coexistence of mining and tourism is a given. And the possibility of exploiting mining land as a window in its evolution, this has also been proven. Allow me some pictures: a hotel in a mine in China, land restored by PPC from the lignite mines, or the Imerys’ vine yards on Milos.

 

[SOURCE:: ΟΙΚΟΝΟΜΙΚI ΕPΙTHEORISI, by Adonis Papayiannidis, 1/10/2017]

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