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Talvivaara Mining Company Plc. Talvivaaras gypsum pond leakage has stopped

Wed, 14 Nov 2012 03:40:27 EST

Stock Exchange Release
Talvivaara Mining Company Plc


Talvivaara's gypsum pond leakage has stopped
Kainuu ELY Centre requests further clarifications to grant permission for re-start
of the metals recovery plant

Talvivaara Mining Company Plc ("Talvivaara" or the "Company") announces that the leakage of the gypsum pond at the Sotkamo mine has stopped. Most of the water that had previously leaked from the pond is contained within the mining concession area by the newly built fourth safety dam. No further release of the leakage water outside the mine area is anticipated.

Before the fourth safety dam was completed, some water from the gypsum pond had to be released towards South between Thursday 8 November and Sunday 11 November 2012. The released water was neutralized with lime in order to reduce its acidity and to precipitate its metal content. However, the effects of the discharge can be seen in the nearby waters as temporarily increased metal concentrations. According to the statement by Finland's environmental administration on 13 November 2012, the samples taken from water bodies on the Southern side of the mine area on 11 November 2012 show metal concentrations that are harmful to life forms in these waters. Metals concentrations in the downstream river have already clearly reduced following the stoppage of any leakage outside the mine area. The Environmental administration continues to simulate the effects of the discharge as analytical data from water samples accumulates and informs of any effects in downstream waters.

Talvivaara has on 13 November 2012 given the clarification requested by the Kainuu Centre for Economic Development, Transport and the Environment ("Kainuu ELY Centre") in order to grant permission for the re-start of Talvivaara's metals recovery plant. After reviewing the clarification, the Kainuu ELY Centre has requested certain further clarifications, which the Company anticipates to provide during 14 November 2012.

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, but can only do so after it has received the ELY Centre's decision on the permitted start-up date of the metals recovery plant.

 

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.


Source: WebWire



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