Eldorado Gold, which owns Hellas Gold, said that the formal notice from the ministry indicated that the project is being reviewed by the agency and a decision could be reversed after the internal review process, the company said.

The revocation of approval does not affect the construction schedule of the project and other site activities.

Eldorado Gold CEO Paul Wright said: "We have 2,000 people working directly for us and our contractors in Greece and are making a significant contribution to the economy of the country during challenging times.

"The funds invested in Greece to date have been used primarily for payments to Greek stakeholders, such as our employees, suppliers of goods and services, contractors and government (the Greek State having received in excess of 50 million euros in taxes as a result of our investments since 2012)."

Since 2012, the company spent more than $450m at its Skouries and Olympias mines, which would position it as Greece’s top exporters on starting commercial production, Eldorado Gold said.