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2008-07-16 10:57:00 CEST 2008-07-16 11:10:42 CEST REGULATED INFORMATION Talvivaaran Kaivososakeyhtiö Oyj - Company AnnouncementMaterials handling processes commence at TalvivaaraTalvivaara Mining Company Plc (“Talvivaara” or the “Company”) is pleased to announce that the ramp-up of the materials handling processes at the Talvivaara mine has commenced on schedule at the beginning of July 2008. On 1 July 2008 the Company contracted primary crushing, and by 16 July 2008 secondary and tertiary crushing, agglomeration and provisional stacking arrangements were operational. Bioheapleaching has also commenced with inoculation and irrigation of the starter heap. Talvivaara's stacking equipment is anticipated to be operational by the end of July 2008. Meanwhile, temporary arrangements have been made for stacking in order to keep the overall schedule of the project intact, with the aim of producing the first nickel and zinc sulphides in October 2008. The arrangement will not have a material effect on operating costs. The scheduled delivery of Talvivaara's own primary crusher is expected in December, as previously announced. Talvivaara's CEO, Pekka Perä comments: “Reaching this significant milestone on schedule is the result of excellent cooperation between Talvivaara and its contractors. I therefore extend my thanks to both our own and the contractors' teams who have worked tirelessly over the last weeks and months and postponed their well-earned summer vacations in order to reach this goal. Although the milestone reached is extremely important, the hard work continues with commissioning the rest of the materials handling equipment and erecting and commissioning the metals recovery plant.” ENQUIRIES Talvivaara Mining Company Plc. Tel: +358 20 7129 800 Pekka Perä CEO Saila Miettinen-Lähde CFO Merlin Tel: +44 207 653 6620 Tom Randell Anca Spiridon Talvivaara aims to become an internationally significant base metals producer with its primary focus on nickel and zinc using a technology known as bioheapleaching to extract metal out of low grade 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 sufficient to support anticipated production for a minimum of 24 years and production is expected to start in late 2008. The Company has secured a 10-year off-take agreement for 100 per cent. of its main output of nickel and cobalt to Norilsk Nickel. |
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