Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Correction: Talvivaara Mining Company Interim Report for January-June 2013

Stock Exchange Release

Talvivaara Mining Company Plc

15 August 2013







   Correction: Talvivaara Mining Company Interim Report for January-June 2013



Correction  to Talvivaara Mining  Company Interim Report  for January-June 2013
published   on   15 August  2013. The  Interim  Report  for  January-June  2013
incorrectly  states on page  1 in the Key  Figures table that  the Profit (loss)
figure  for the period  was positive. Talvivaara  Mining Company's Profit (loss)
figure  for  the  period  was  negative.  In  addition,  the  Key  Figures table
incorrectly  states that  the number  of employees  at the  end of the period Q2
2012 was  505. The correct number of employees at the end of the period Q2 2012
is 595.





The corrected Key Figures table is as follows:

Key Figures

--------------------------------------------------------------------------------
EUR million                                  Q2      Q2    Q1-Q2   Q1-Q2      FY

                                           2013    2012     2013    2012    2012
--------------------------------------------------------------------------------
Net sales                                  13.0    33.4     40.6    72.5   142.9
--------------------------------------------------------------------------------
Operating profit (loss)                  (23.9)  (10.9)   (43.8)  (22.3)  (83.6)
--------------------------------------------------------------------------------
      % of net sales                   (183.3%) (32.5%) (107.9%) (30.8%) (58.5)%
--------------------------------------------------------------------------------
Profit (loss) for the period             (27.6)  (17.5)   (51.5)  (32.4) (103.9)
--------------------------------------------------------------------------------
Earnings per share, EUR                  (0.03)  (0.06)   (0.06)  (0.12)  (0.38)
--------------------------------------------------------------------------------
Equity-to-assets ratio                    37.0%   28.9%    37.0%   28.9%   24.3%
--------------------------------------------------------------------------------
Net interest bearing debt                 409.5   475.6    409.5   475.6   563.8
--------------------------------------------------------------------------------
Debt-to-equity ratio                      81.2%  125.8%    81.2%  125.8%  183.3%
--------------------------------------------------------------------------------
Capital expenditure                        15.3    20.7     32.6    35.3    97.5
--------------------------------------------------------------------------------
Cash and cash equivalents at the end      101.1   128.7    101.1   128.7    36.1
of the period
--------------------------------------------------------------------------------
Number of employees at the end of the       673     595      673     595     588
period
--------------------------------------------------------------------------------

All reported figures in this release are unaudited.



The  corrected Interim Report for January-June 2013 can be found on Talvivaara's
website  www.talvivaara.com/financial-reports and is  attached as a  PDF file to
this Stock Exchange Release.





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  NV. Talvivaara is  listed on the London Stock
Exchange  Main Market and NASDAQ OMX  Helsinki. Further information can be found
at www.talvivaara.com.




[HUG#1723317]

Attachments:

Talvivaara Interim Report Jan-Jun 2013 15.8.13.pdf