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2013-12-05 09:04:24 CET 2013-12-05 09:05:22 CET REGULATED INFORMATION Talvivaaran Kaivososakeyhtiö Oyj - Company AnnouncementTalvivaara Mining Company Plc: The Supreme Administrative Court returns the uranium permit for reassessment by the Finnish GovernmentStock exchange release Talvivaara Mining Company Plc 5 December 2013 The Supreme Administrative Court has returned the decision to extract uranium for reassessment by the Finnish Government Talvivaara Mining Company Plc ("Company") announces that the Supreme Administrative Court has today returned the permit of 1 March 2012 to extract uranium granted to the Company's operating subsidiary, Talvivaara Sotkamo Ltd ("Talvivaara Sotkamo"), for reassessment by the Finnish Government. According to the Supreme Administrative Court there have been several changes in the operations of Talvivaara Sotkamo following the permit decision, including the filing for corporate reorganization at the Espoo district court by Talvivaara Sotkamo on 15 November 2013. Before the ruling the Government should reassess the permit application documentation and, if needed, obtain additional information on the economical and safety related requirements set forth in the Nuclear Energy Act. The Company continues to assess the decision. Enquiries Talvivaara Mining Company Plc Tel +358 20 7129 800 Saila Miettinen-Lähde, Deputy CEO and CFO Pekka Erkinheimo, Chief Commercial 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. Talvivaara is listed on the London Stock Exchange Main Market and NASDAQ OMX Helsinki. Further information can be found at www.talvivaara.com. [HUG#1745485] |
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