Talvivaara Slides Most in Three Years as Outlook, CEO Fall
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Talvivaara Mining Co., the owner of a Finnish nickel mine, declined by the most since 2008 in London trading after cutting its output estimate, warning of a strike and saying Chief Executive Officer Pekka Pera will quit.
Talvivaara slid 19 percent to 205 pence by the 4:30 p.m. close in London, the biggest decline since Dec. 1, 2008. The company cut its 2011 output forecast to 16,000 metric tons from an April estimate of 22,000 to 28,000 tons. Workers in Finland threatened to strike Oct. 21 to Nov. 7, it said in a statement.