Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Mining Company Plc: Talvivaara's metals recovery plant has received permit to re-start

Stock Exchange Release
Talvivaara Mining Company Plc
21 November 2012


       Talvivaara's metals recovery plant has received permit to re-start


Talvivaara  Mining  Company  Plc  ("Talvivaara  or  the "Company") has today 21
November   2012 received   the  permit  from  the  Kainuu  Centre  for  Economic
Development, Transport and the Environment ("Kainuu ELY Centre") to re-start the
metals  recovery plant at the Company's  Sotkamo mine. The metals recovery plant
has  been temporarily suspended since  4 November 2012 following the gypsum pond
leakage  and  related  risk  analyses  and  steps  taken to ensure the safety of
operations.

As a result of the gypsum pond leakage and the preceding unusually rainy summer,
Talvivaara  has had  to store  excess water  in the  mine area.  Re-start of the
metals  recovery plant will improve the  mine's overall water balance, as metals
are  removed  from  process  solution  through  metals  precipitation  and post-
neutralization.  In conjunction with the re-start  of the metals recovery plant,
Talvivaara  will also commission the new  reverse osmosis -based water treatment
plant.  The reverse osmosis  technology enables the  Company to achieve a nearly
closed  circuit water  circulation system,  which in  turn allows  a significant
reduction in or complete stoppage of raw water intake into the process.

In  assessing the re-start conditions  of the plant, the  Company and Kainuu ELY
Centre  have also received a statement from an independent expert on operational
safety of the gypsum ponds. While the plant is in operation, waste material from
iron  precipitation  and  post-neutralization  will  be  directed to gypsum pond
sections  assessed to be secure, and simultaneously excess water will be removed
from these sections to reduce overall stress.

Talvivaara has on 8 November 2012, 13 November 2012 and 19 November 2012
provided the Kainuu ELY Centre with clarifications on metals production process
control in order to receive the re-start permit. In addition to these
clarifications, the re-start permit received today is based on the combined
inspection conducted on 19 November 2012 by the Kainuu ELY Centre, the Finnish
Safety and Chemicals Agency (Tukes) and the Radiation and Nuclear Safety
Authority (STUK). Based on risk assessments undertaken in conjunction with
evaluating the re-start permit, the Kainuu ELY Centre also requests the Company
to take certain separately determined steps relating to water balance and dam
safety improvements, monitoring and reporting.

Talvivaara expects to re-start the metals recovery plant during the remainder of
the  week, by 25 November 2012. The Company  will update its production guidance
for  the full year 2012 during the  week commencing 26 November 2012 and as soon
as possible following re-start of the plant.

Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, Chief Executive Officer
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 and is  included in the FTSE 250
Index. Further information can be found at www.talvivaara.com.

[HUG#1659733]

Attachments:

Talvivaara Mining Company Plc Metals recovery plant has received perm.pdf