Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara: No authority investigation ongoing for a temporary close-down of Talvivaara mining operations

Stock Exchange Release

Talvivaara Mining Company Plc

15 November 2011




  No authority investigation ongoing for a temporary close-down of Talvivaara
                               mining operations


Talvivaara  Mining Company  Plc ("Talvivaara")  announces that,  contrary to the
recent  allegations presented in the media  (Helsingin Sanomat 10 November , Yle
News  15 November and Reuters 15 November), the Centre for Economic Development,
Transport  and the  Environment (ELY  Centre) of  Kainuu is not contemplating on
restricting or temporarily closing down Talvivaara's mining operations.

Earlier  in the autumn  of 2011, the Kainuu  ELY Centre has,  on the basis of an
application  filed by two individuals, investigated  whether there have been any
breaches   of   applicable   environmental  provisions  in  Talvivaara's  mining
operations,  which would give rise to  administrative coercive measures, such as
an order to take action under a penalty payment or a temporary close-down of the
operations.   However, the  Kainuu ELY  Centre gave  an unequivocal ruling on 4
October  2011, according to  which there  are no  grounds for  any such coercive
measures.

Talvivaara's  CEO  Pekka  Perä  comments:  "The  stated  allegation  on  ongoing
investigations  is puzzling, as we have  on numerous occasions been confirmed by
the  Kainuu ELY Centre, as the competent  authority, that they are presently not
conducting  such investigations. The  news repeatedly broadcast  in the media is
completely incorrect.""Talvivaara  is a responsible  mining operator and  we will always do everything
within our power to minimise the environmental impacts of our operations."

Talvivaara  will  give  a  more  detailed  description  of the planned and taken
actions  to minimise the environmental impacts of its operations on Thursday 17
November.

ENQUIRIES

Talvivaara Mining Company Plc.  Tel: +358 20 7129 800
Pekka Perä, Chief Executive Officer
Pekka Erkinheimo, Chief Commercial Officer


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 and is  included in the FTSE 250
Index. Further information can be found atwww.talvivaara.com.

[HUG#1564045]

Attachments:

No investigation ongoing for a temporary close-down Talvivaara.pdf