SOLIDIUM HAS ACQUIRED 4.3 % OF THE SHARES IN TALVIVAARA MINING COMPANY PLC
(Thomson Reuters ONE) -
Solidium Oy has signed today an agreement with Outokumpu Mining Oy, a subsidiary
of Outokumpu Oyj, to acquire the entire shareholding of Outokumpu Mining in
Talvivaara Mining Company Plc, in aggregate 10 522 366 shares in Talvivaara. The
shares represent 4.3 per cent of all Talvivaara shares currently outstanding.
The purchase price of the shares is EUR 60 million.
"We have been screening Talvivaara for a long time. In our view Talvivaara is a
good investment in the long term and it fits well in Solidium's portfolio. We
believe that the Finnish mining cluster will develop positively in the future,
and that Finland can seize the opportunity to become the leading mining country
in Europe. We already have interests in the mining cluster through our holdings
in Outokumpu and Metso, and, by investing in Talvivaara, we further strengthen
our insight into mining industry and related industries", says Solidium's
Managing Director Kari Järvinen.
Talvivaara 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.
Further information: Managing Director Kari Järvinen, Solidium Oy, tel. +358
(0)10 830 89 05
Solidium is a limited company wholly owned by the State of Finland. Its mission
is to strengthen and stabilise Finnish ownership in nationally important
companies and increase the value of its holdings in the long run. Investment
activities are based on financial analysis. The core of Solidium's investment
strategy is proper, value enhancing asset management of the current holdings.
Through its stakes, Solidium is a minority owner in eleven listed companies:
Elisa, Kemira, Metso, Outokumpu, Rautaruukki, Sampo, Sponda, Stora Enso,
Talvivaara, TeliaSonera and Tieto. The market value of Solidium's investments is
approximately EUR 8.8 billion at the date of this press release. Further
information: www.solidium.fi.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Solidium Oy via Thomson Reuters ONE
[HUG#1520505]
Unternehmensinformation / Kurzprofil:
Datum: 01.06.2011 - 08:04 Uhr
Sprache: Deutsch
News-ID 55198
Anzahl Zeichen: 3415
contact information:
Town:
Helsinki
Kategorie:
Business News
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"SOLIDIUM HAS ACQUIRED 4.3 % OF THE SHARES IN TALVIVAARA MINING COMPANY PLC"
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