|
|||
2013-12-05 14:27:09 CET 2013-12-05 14:28:15 CET REGULATED INFORMATION Talvivaaran Kaivososakeyhtiö Oyj - Company AnnouncementTalvivaara Mining Company Plc: No material financial impact from reassessment of uranium extraction permit anticipatedStock exchange release Talvivaara Mining Company Plc 5 December 2013 Talvivaara anticipates no material financial impact from reassessment of uranium extraction permit Having further assessed the decision by the Supreme Administrative Court to return the uranium extraction permit for reassessment by the Finnish Government, Talvivaara Mining Company Plc (the "Company") states that this decision has no material financial impact on the Company in the short or medium term. The Company does not either expect the decision to have an impact on the corporate reorganisation proceedings of the Company, nor on the potential corporate reorganisation proceedings of Talvivaara Sotkamo Ltd. CEO Pekka Perä comments: "The Company has aimed at gradually commencing uranium extraction as a by-product during the summer and autumn of 2014, subject to all necessary permits having been obtained by then. As a result of the ruling by the Supreme Administrative Court, the production start-up is likely to be somewhat delayed, but we do not foresee this having any material impact on our 2014 financial results. Our near term focus remains on stabilising our financial situation and on enhancing the production of our main products, nickel and zinc." 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. Talvivaara is listed on the London Stock Exchange Main Market and NASDAQ OMX Helsinki. Further information can be found at www.talvivaara.com. [HUG#1747999] |
|||
|