Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Mining Company Plc: No material financial impact from reassessment of uranium extraction permit anticipated

Stock exchange release
Talvivaara Mining Company Plc
5 December 2013



Talvivaara anticipates no material financial impact from reassessment of uranium
                               extraction permit

Having  further assessed  the decision  by the  Supreme Administrative  Court to
return the uranium extraction permit for reassessment by the Finnish Government,
Talvivaara  Mining Company Plc (the "Company")  states that this decision has no
material  financial  impact  on  the  Company  in  the short or medium term. The
Company  does not either expect the decision  to have an impact on the corporate
reorganisation  proceedings  of  the  Company,  nor  on  the potential corporate
reorganisation proceedings of Talvivaara Sotkamo Ltd.


CEO  Pekka Perä comments: "The Company has aimed at gradually commencing uranium
extraction as a
by-product  during  the  summer  and  autumn  of  2014, subject to all necessary
permits  having been obtained by then. As a  result of the ruling by the Supreme
Administrative  Court, the production start-up is likely to be somewhat delayed,
but  we do  not foresee  this having  any material  impact on our 2014 financial
results.  Our near term focus remains on stabilising our financial situation and
on enhancing the production of our main products, nickel and zinc."


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

[HUG#1747999]

Attachments:

On uranium permit decision impact.pdf