Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Mining Company Plc: Adjustment to conversion price of convertible bonds due 2013 and 2015

Stock Exchange Release

Talvivaara Mining Company Plc

16 February 2012




     Adjustment to conversion price of convertible bonds due 2013 and 2015


Talvivaara  Mining Company Plc ("Talvivaara") announces that, as a result of the
placing   of   24,589,050 new  ordinary  shares  announced  earlier  today,  the
conversion price of Talvivaara's EUR 84.9 million convertible bonds due 2013 and
EUR 225 million convertible bonds due 2015 will be adjusted conditional upon the
completion of the placing.

The conversion price of the convertible bonds due 2013 will be adjusted from GBP
5.886 (€7.387)  to GBP 5.7931 (€7.2703) resulting in  an increase of the maximum
number of ordinary shares that may be issued upon conversion by 184,428 ordinary
shares.  The Board  of Directors  will seek  a related  authorisation at the EGM
scheduled for 12 March 2012.

The conversion price of the convertible bonds due 2015 will be adjusted from GBP
7.0043 (€8.3435) to GBP 6.8937 (€8.2117) resulting in an increase of the maximum
number of ordinary shares that may be issued upon conversion by 432,807 ordinary
shares.



ENQUIRIES

Talvivaara Mining Company Plc Tel: +358 20 7129 800
Pekka Erkinheimo, Chief Commercial Officer
Saila Miettinen-Lähde, Chief Financial 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#1586783]

Attachments:

Adjustment to conversion price of convertible bonds due 2013 and 2015.pdf