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by Maria Spiliopoulou


ATHENS Jordan Trainer Wholesale , Sept. 21 (Xinhua) -- Canadian gold mining company Eldorado Gold announced Thursday that it would temporarily postpone its plan to suspend work on its Greek gold mines, while awaiting the results of the dialogue with the Greek state regarding a dispute over operating licenses.


Hellas Gold, Eldorado's subsidiary, will continue operating its gold mines in Halkidiki peninsula in northern Greece, Greek national news agency AMNA reported.


The Canadian company withdrew the warning it had made earlier this September that it would cease all activities from Sept. 22, citing long delays in getting the necessary operating licenses.


"We are very pleased with the constructive dialogue that is underway with the ministry of energy and environment. Last week, the ministry issued a number of long overdue routine permits for our Olympias project," said George Burns, president and chief executive officer of Eldorado, according to a company press release.


Eldorado's announcement came as about 1,000 workers marched in central Athens to protest against the delays in the licensing process which put jobs at stake.


In addition to the issuance of some licenses, last week, the arbitration process began between the Greek state and the company regarding the still-pending permits for a facility at Skouries, one of the project's sites.


The government referred to the State Council, Greece's supreme administrative court, to resolve the issue, explaining that the process was foreseen by the concession agreement.


In a statement issued a few days ago, Greek environment and energy minister Giorgos Stathakis argued that the licenses the gold mining investors requested had not been granted because contractual obligations had not been met.


The Greek official cited concern over the "environmental and ecological footprint that would affect the health of residents and the economic activities of the wider region".


The arbitration process between the Greek state and the company is expected to last up to six months, according to ministry sources.


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By Matthew Rusling


CORAL GABLES, the United States, Sept. 20 (Xinhua) -- In parts of Coral Gables, a small city near Miami, even the smallest and oldest properties are worth millions of U.S. dollars. The biggest easily cost tens of millions, and home owners have million dollar yachts parked in waterways that lead right up to their door.


But sea levels in southern Florida are rising, and that could have a major impact on the area's high-value real estate -- some of the most expensive in the nation. The problem could have long-term ripple effects throughout the economy, from mortgage lending to insurance to taxes.


Coral Gables has 48 miles (77 kilometers) of coastline, and much of it is at one or two feet (30 to 60 cm) above sea level. Rising sea levels could flood roadways and coastlines, which could, one day, have a dramatic impact on the local economy.


Southern Florida is a playground for the rich and famous, as well as a major retirement destination for many Americans, who have come to spend their golden years soaking up the sun and living a relaxed, seaside lifestyle.


The wealthy are also drawn to the area for the same reasons, and the area long ago opened up a major high-end property market, with gated communities where back doors lead right into gorgeous waterways.


But southern Florida lies on a bed of porous limestone. During high tides, flooding can -- and does -- occur on sunny days, without even a drop of rain. That's because high tides -- increasingly higher due to sea level rise spurred by climate change -- seep up through the drainage system and flood streets and roadways.


Rising sea levels could pose a host of related problems, such as problems for mortgage lenders, the city's mayor, Raúl Valdés-Fauli, told Xinhua.


Indeed, at some point, there may be problems in getting 30 year mortgages, as banks may not be willing to lend, since homeowners may be unable to re-sell the property in the long run, reducing their ability to pay off mortgages, experts said.


Property taxes could also be impacted, as home values could go down substantially, Valdés-Fauli said, leaving possible local government budget shortfalls.


"That's a lot of money for us. We're not only going to have to see how we're going to replace that, but also see how we're going to take measures to combat what's happening," he said.


"We get 45 percent of our income from real estate taxes," he said of the local government.


But if banks and mortgage lenders are no longer willing, down the road, to provide mortgages due to fear of flooding, that could lead to dramatically lower tax receipts.


Much of the area's high value real estate is either close to the waterfront or on canals. Many home owners have yachts parked in the water, which leads right up to their door.


"The yachts are going to lose the ability to go out into the sea because of the height of the bridges (is too low), they're not going to be able to fit under them. And we have (a few hundred) houses in from those bridges, and they're going to lose their waterfront quality if they can't have a substantial boat in back of them," Valdés-Fauli said.


"We are facing pressures on sea level rising, we really are, and our most expensi

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