Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Mining Company Plc. Talvivaara's gypsum pond leakage has stopped

Stock Exchange Release
Talvivaara Mining Company Plc
14 November 2012


                  Talvivaara's gypsum pond leakage has stopped
 Kainuu ELY Centre requests further clarifications to grant permission for re-
                                     start
                          of the metals recovery plant

Talvivaara Mining Company Plc ("Talvivaara" or the "Company") announces that the
leakage  of the  gypsum pond at the Sotkamo  mine has stopped. Most of the water
that  had  previously  leaked  from  the  pond  is  contained  within the mining
concession  area by the newly built fourth safety dam. No further release of the
leakage water outside the mine area is anticipated.

Before  the fourth safety dam was completed, some water from the gypsum pond had
to  be released towards South between Thursday 8 November and Sunday 11 November
2012. The  released  water  was  neutralized  with  lime  in order to reduce its
acidity  and  to  precipitate  its  metal  content.  However, the effects of the
discharge  can  be  seen  in  the  nearby  waters as temporarily increased metal
concentrations.   According   to   the   statement  by  Finland's  environmental
administration  on 13 November 2012, the samples taken  from water bodies on the
Southern  side of  the mine  area on  11 November 2012 show metal concentrations
that  are harmful to  life forms in  these waters. Metals  concentrations in the
downstream  river have  already clearly  reduced following  the stoppage  of any
leakage  outside the  mine area.  The Environmental  administration continues to
simulate  the effects  of the  discharge as  analytical data  from water samples
accumulates and informs of any effects in downstream waters.

Talvivaara  has  on  13 November  2012 given  the clarification requested by the
Kainuu  Centre for Economic Development,  Transport and the Environment ("Kainuu
ELY  Centre")  in  order  to  grant  permission for the re-start of Talvivaara's
metals  recovery plant. After reviewing the clarification, the Kainuu ELY Centre
has  requested certain further clarifications,  which the Company anticipates to
provide during 14 November 2012.

Talvivaara  has  stated  in  its  Production  Update  of 15 October 2012 and its
Interim  Results  of  8 November  2012 that  it  anticipates  its fourth quarter
production  to increase  over the  4,030 tonnes of  nickel achieved in the third
quarter. As the stoppage of the metals recovery plant continues, the Company has
to  re-assess this  target, but  can only  do so  after it  has received the ELY
Centre's decision on the permitted start-up date of the metals recovery plant.

Enquiries

Talvivaara Mining Company Plc Tel: +358 20 7129 800
Harri Natunen, Chief Executive Officer
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 and is  included in the FTSE 250
Index. Further information can be found at www.talvivaara.com.

[HUG#1657727]

Attachments:

Talvivaara s gypsum pond leakage has stopped.pdf