Talvivaaran Kaivososakeyhtiö Oyj - Company Announcement

Talvivaara Mining Company Plc: Co-operation consultations concluded

Stock Exchange Release
Talvivaara Mining Company Plc
21 August 2013


               Talvivaara's co-operation consultations concluded



Talvivaara  Mining Company Plc ("Talvivaara" or the "Company") has concluded the
co-operation  consultations started in July regarding the organizational changes
to  support the  Company's cost  reduction and  efficiency programme.  All three
corporate  entities, Talvivaara Mining  Company Plc, Talvivaara  Sotkamo Ltd and
Talvivaara  Exploration Ltd, and  all personnel groups  were within the scope of
consultations.

In  the  beginning  of  the  consultations  the  Company  estimated the possible
employee  impact to   be the  maximum of  250 terminations of  employment and/or
temporary  lay-offs. Following the consultations the reduction of personnel will
amount  to  a  total  of  68 employees  through  terminations  of employment and
retirement.  29 of  the  total  will  be  production workers and 39 salaried and
senior  salaried employees. Also some lay-offs will be implemented. In addition,
the  employment of 96 employees with temporary  contracts shall terminate at the
end  of the agreed contract period without renewal. The employees with temporary
contracts  include  summer  trainees  currently  working  for  the  Company. The
Talvivaara Group currently has approximately 670 employees.

The  efficiency measures now agreed are part of Talvivaara's efficiency and cost
reduction  programme started in  June. The cost  savings from personnel measures
are estimated to amount to approximately EUR 5 million on annual basis and to be
realized within the next six months.

To  the employees made redundant Talvivaara  provides  services to support their
re-employment.


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

[HUG#1724193]

Liitteet:

Talvivaara s co-operation consultations concluded.pdf