Talvivaara's co-operation consultations for temporary lay-offs concluded
(Thomson Reuters ONE) -
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.
Talvivaara's co-operation consultations for lay-offs concluded:
http://hugin.info/136227/R/1674477/545258.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE
[HUG#1674477]
Unternehmensinformation / Kurzprofil:
Datum: 31.01.2013 - 09:27 Uhr
Sprache: Deutsch
News-ID 224817
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Kategorie:
Business News
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"Talvivaara's co-operation consultations for temporary lay-offs concluded"
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