Talvivaara Mining Company Plc cancels temporary lay-offs in order to re-start mining
(Thomson Reuters ONE) -
Stock Exchange Release
Talvivaara Mining Company Plc
17 April 2013
Talvivaara cancels temporary lay-offs in order to re-start mining
Talvivaara Mining Company Plc ("Talvivaara" or the "Company") terminates the
temporary lay-offs it started in February 2013 in order to re-start currently
suspended mining and materials handling operations during May 2013. The Company
will commence mining at the Northern end of the Kuusilampi open pit, where the
water level has declined such that preparations for the re-start of mining and
crushing operations can commence. The open pit will continue to serve as water
management safety capacity despite the commencement of preparations for re-
starting mine production.
The re-start of ore production approximately 1.5 months in advance of earlier
plans improves the overall water balance of the mine, as new ore absorbs a
significant amount of water, approximately 10-15% of ore mass, at the stacking
phase. For example, ten million tonnes of new ore ties up approximately one
million cubic metres of water. Adding new ore to the leaching process earlier
than anticipated also supports the achievement of the Company's production
targets and the progress of ramp-up in accordance with plans.
The cancellation of the temporary lay-offs impacts 184 employees. Over half of
the planned lay-offs have been carried out since February, as approximately 121
employees were temporarily laid off during February - April.
Enquiries
Talvivaara Mining Company Plc Tel +358 20 7129 800
Pekka Perä, CEO
Harri Natunen, COO
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.
Talvivaara cancels temporary lay-offs in order to re-start mining:
http://hugin.info/136227/R/1693730/556840.pdf
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Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE
[HUG#1693730]
Unternehmensinformation / Kurzprofil:
Datum: 17.04.2013 - 15:23 Uhr
Sprache: Deutsch
News-ID 250000
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