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2011-11-15 16:12:09 CET 2011-11-15 16:12:48 CET REGULATED INFORMATION Talvivaaran Kaivososakeyhtiö Oyj - Company AnnouncementTalvivaara: No authority investigation ongoing for a temporary close-down of Talvivaara mining operationsStock Exchange Release Talvivaara Mining Company Plc 15 November 2011 No authority investigation ongoing for a temporary close-down of Talvivaara mining operations Talvivaara Mining Company Plc ("Talvivaara") announces that, contrary to the recent allegations presented in the media (Helsingin Sanomat 10 November , Yle News 15 November and Reuters 15 November), the Centre for Economic Development, Transport and the Environment (ELY Centre) of Kainuu is not contemplating on restricting or temporarily closing down Talvivaara's mining operations. Earlier in the autumn of 2011, the Kainuu ELY Centre has, on the basis of an application filed by two individuals, investigated whether there have been any breaches of applicable environmental provisions in Talvivaara's mining operations, which would give rise to administrative coercive measures, such as an order to take action under a penalty payment or a temporary close-down of the operations. However, the Kainuu ELY Centre gave an unequivocal ruling on 4 October 2011, according to which there are no grounds for any such coercive measures. Talvivaara's CEO Pekka Perä comments: "The stated allegation on ongoing investigations is puzzling, as we have on numerous occasions been confirmed by the Kainuu ELY Centre, as the competent authority, that they are presently not conducting such investigations. The news repeatedly broadcast in the media is completely incorrect.""Talvivaara is a responsible mining operator and we will always do everything within our power to minimise the environmental impacts of our operations." Talvivaara will give a more detailed description of the planned and taken actions to minimise the environmental impacts of its operations on Thursday 17 November. ENQUIRIES Talvivaara Mining Company Plc. Tel: +358 20 7129 800 Pekka Perä, Chief Executive Officer 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 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#1564045] |
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