Talvivaara Mining Company Plc: Co-operation consultations concluded
Stock Exchange Release
Talvivaara Mining Company Plc
8 January 2014
Talvivaara's co-operation consultations concluded
Talvivaara Mining Company Plc ("Talvivaara" or the "Company") has concluded its
co-operation consultations. All personnel groups in Talvivaara and its
subsidiaries Talvivaara Sotkamo Ltd and Talvivaara Exploration Ltd were within
the scope of consultations.
Following the consultation process, Talvivaara will gradually lay off 246
employees for an indefinite period. In the beginning of the consultations the
Company estimated the possible employee impact to be terminations of employment,
lay-offs and/or changes to part-time contracts. Talvivaara currently has
approximately 530 employees.
Lay-offs will support the Company and Talvivaara Sotkamo Ltd's corporate
reorganization and adjust the number of personnel to the current operating
scheme under which ore production is temporarily discontinued. Bioheapleaching
and metals recovery activities continue in a normal fashion.
Talvivaara Mining Company PlcÂ Â Â Â Â Â Â Â Â Tel +358 20 7129 800
Pekka PerÃ¤, CEO
Saila Miettinen-LÃ¤hde, Deputy CEO and CFO
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
Talvivaara's co-operation consultations concluded 8.1.2014:
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Source: Talvivaaran KaivososakeyhtiÃ¶ Oyj via GlobeNewswire