Talvivaaran Kaivososakeyhtiö Oyj : Talvivaara Mining Company Plc: Co-operation consultations concluded

Talvivaaran Kaivososakeyhtiö Oyj : Talvivaara Mining Company Plc: Co-operation
                           consultations concluded

Stock Exchange Release
Talvivaara Mining Company Plc
21 August 2013

              Talvivaara's co-operation consultations concluded

Talvivaara Mining Company  Plc ("Talvivaara" or  the "Company") has  concluded 
the co-operation consultations  started in July  regarding the  organizational 
changes to support the Company's cost reduction and efficiency programme.  All 
three corporate entities,  Talvivaara Mining Company  Plc, Talvivaara  Sotkamo 
Ltd and Talvivaara Exploration Ltd, and  all personnel groups were within  the 
scope of consultations.

In the  beginning of  the  consultations the  Company estimated  the  possible 
employee impact to be  the maximum of 250  terminations of employment  and/or 
temporary lay-offs.  Following the  consultations the  reduction of  personnel 
will amount to a total of 68 employees through terminations of employment  and 
retirement. 29 of  the total will  be production workers  and 39 salaried  and 
senior  salaried  employees.  Also  some  lay-offs  will  be  implemented.  In 
addition, the  employment  of  96 employees  with  temporary  contracts  shall 
terminate at  the end  of  the agreed  contract  period without  renewal.  The 
employees with temporary contracts  include summer trainees currently  working 
for  the  Company.  The  Talvivaara  Group  currently  has  approximately  670 
employees.

The efficiency measures  now agreed  are part of  Talvivaara's efficiency  and 
cost reduction  programme started  in June.  The cost  savings from  personnel 
measures are estimated  to amount  to approximately  EUR 5  million on  annual 
basis and to be realized within the next six months.

To the employees made redundant Talvivaara provides services to support their
re-employment.

Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Saila Miettinen-Lähde, Deputy CEO and CFO

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's co-operation consultations concluded

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Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE
HUG#1724193
 
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