Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Talvivaaran Kaivososakeyhtiö Oyj : Talvivaara Mining Company Plc cancels temporary lay-offs in order to re-start mining



   Talvivaaran Kaivososakeyhtiö Oyj : Talvivaara Mining Company Plc cancels
                temporary lay-offs in order to re-start mining

Stock Exchange Release
Talvivaara Mining Company Plc
17 April 2013

      Talvivaara cancels temporary lay-offs in order to re-start mining

Talvivaara Mining Company Plc ("Talvivaara"  or the "Company") terminates  the 
temporary lay-offs it started in February 2013 in order to re-start  currently 
suspended mining  and  materials  handling operations  during  May  2013.  The 
Company will commence mining at the  Northern end of the Kuusilampi open  pit, 
where the water level has declined such that preparations for the re-start  of 
mining and crushing  operations can commence.  The open pit  will continue  to 
serve  as  water  management  safety  capacity  despite  the  commencement  of 
preparations for re-starting mine production.

The re-start of ore production approximately 1.5 months in advance of  earlier 
plans improves the overall  water balance of  the mine, as  new ore absorbs  a 
significant amount of water, approximately 10-15% of ore mass, at the stacking
phase. For example, ten  million tonnes of new  ore ties up approximately  one 
million cubic metres of water. Adding new ore to the leaching process  earlier 
than anticipated also  supports the  achievement of  the Company's  production 
targets and the progress of ramp-up in accordance with plans.

The cancellation of the temporary lay-offs impacts 184 employees. Over half of
the planned lay-offs have  been carried out  since February, as  approximately 
121 employees were temporarily laid off during February - April.

Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Harri Natunen, COO

Talvivaara Mining Company Plc

Talvivaara Mining  Company  is  an  internationally  significant  base  metals 
producer with its primary focus on nickel and zinc using a technology known as
bioheapleaching to extract metals out of ore. Bioheapleaching makes extraction
of metals  from low  grade ore  economically viable.  The Talvivaara  deposits 
comprise one of the largest known sulphide nickel resources in Europe. The ore
body is  estimated  to support  anticipated  production for  several  decades. 
Talvivaara has secured a  10-year off-take agreement for  100 per cent of  its 
main output  of  nickel  and cobalt  to  Norilsk  Nickel and  entered  into  a 
long-term zinc streaming agreement  with Nyrstar NV.  Talvivaara is listed  on 
the London  Stock  Exchange  Main  Market and  NASDAQ  OMX  Helsinki.  Further 
information can be found at www.talvivaara.com.

Talvivaara cancels temporary lay-offs in order to re-start mining

------------------------------------------------------------------------------

This announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other
applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of
the
information contained therein.

Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE
HUG#1693730
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement