Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara's co-operation consultations for temporary lay-offs concluded

Stock Exchange Release
Talvivaara Mining Company Plc
31 January 2013



    Talvivaara's co-operation consultations for temporary lay-offs concluded


Talvivaara  Mining Company Plc ("Talvivaara" or the "Company") has concluded co-
operation  consultations for  temporary lay-offs  for all  personnel groups. All
three  corporate entities, Talvivaara Mining Company Plc, Talvivaara Sotkamo Ltd
and Talvivaara Exploration Ltd, were within the scope of the consultations.

Following  the consultations, Talvivaara will  temporarily lay off 184 employees
between 18 February and 30 June 2013. The maximum duration of the lay-off period
is  90 days  per  individual  employee.  At  the start of the consultations, the
Company estimated the maximum number of employees impacted to be 230. Talvivaara
currently employs approximately 580 people in total.

The  lay-offs are carried out to  support the Company's cost savings initiatives
and  overall efficiency, and to adjust the level of personnel to the temporarily
suspended  ore production. Talvivaara's ore  production has been suspended since
September  2012 due  to  the  prevailing  water  balance  situation. The Company
anticipates  re-commencing mining of  new ore by  the end of  June 2013 once the
main part of the Kuusilampi open pit has been de-watered.


Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Maija Kaski, Chief HR 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 at www.talvivaara.com.

[HUG#1674477]

Attachments:

Talvivaara s co-operation consultations for lay-offs concluded.pdf