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2012-11-09 16:25:17 CET 2012-11-09 16:26:24 CET REGULATED INFORMATION Talvivaaran Kaivososakeyhtiö Oyj - Company AnnouncementTalvivaara Mining Company PlcStock Exchange Release Talvivaara Mining Company Plc 9 November 2012 Stemming of the leakage in Talvivaara's gypsum pond continues Kainuu ELY Centre does not for the time being grant permission for re-start of the metals recovery plant Talvivaara Mining Company Plc ("Talvivaara" or the "Company") announces that the gypsum pond leakage towards the South was completely stemmed in the early morning of 9 November 2012, but during the day a further small leakage has occurred, and work to stem it continues. The leakage to the North was entirely stopped in the early morning of 8 November 2012. Whilst the majority of the leakage has been contained in safety dams inside the mining concession area, the Company has had to release some water outside of the mining concession area beginning Thursday 8 November 2012 from the safety dam furthest downstream to the South. Following the completion of additional safety dams, Talvivaara expects to be able to stop the discharge during Saturday 10 November 2012. The water released from the safety dam has been neutralized such that its acidity has been decreased and metal contents have been materially reduced compared to the water in the gypsum pond. As a result, environmental effects outside the mining concession area have been limited so far. According to the statement by Finland's environmental administration today, the discharge has not materially worsened water quality in downstream waters, as the majority of thenickel discharge from the gypsum pond has been contained within the mining concession area. The uranium content in nearby waters has somewhat increased due to the gypsum pond leakage. According to the statement by the Radiation and Nuclear Safety Authority of Finland earlier today, uranium concentrations in the mining concession area and its surroundings are sufficiently small not to have radiation protection materiality or pose any danger to health. The Kainuu Centre for Economic Development, Transport and the Environment ("Kainuu ELY Centre") has in its statement of 9 November 2012 assessed that Talvivaara's metals recovery plant shall not be re-started before the planned operation of the plant has been clarified such that it best serves the recovery from the exceptional situation caused by the gypsum pond leakage. Kainuu ELY Centre requests the Company to clarify how the plant can be operated in this manner by Wednesday 14 November 2012. Talvivaara re-iterates its opinion that the re-start of the plant is an important step in the overall environmental risk management of the mine. The bioheapleaching process is a continuous process that cannot be stopped over the short term. As the leaching process continues to produce more nickel and other metals into the process solution, it is important to precipitate the leached metals as opposed to accumulating them in solutions stored in the process ponds. As such, the metals recovery process can be considered a treatment process for waste water. Talvivaara has stated in its Production Update of 15 October 2012 and its Interim Results of 8 November 2012 that it anticipates its fourth quarter production to increase over the 4,030 tonnes of nickel achieved in the third quarter. As the stoppage of the metals recovery plant continues, the Company has to re-assess this target during the week commencing 12 November 2012. Enquiries Talvivaara Mining Company Plc Tel: +358 20 7129 800 Harri Natunen, 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#1656764] |
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