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Talvivaara Mining: Up to 230 employees could be temporarily laid off

Wed, 16th Jan 2013 07:26

Base metals producer Talvivaara Mining has posted an operational update disclosing that it may temporarily lay-off as many as 230 employees for up to 90 days following adverse impacts on production caused by a gypsum pond leakage.The lay-offs may start as soon as Thursday and the company said it was engaging on 'co-operation consultations' with staff to minimize the negative impact of the potential measures.Nickel production stood at 2,317 tonnes in the fourth quarter of 2012, whilst full year nickel production totalled 12,916 tonnes.Pekka Perä, Chief Executive Officer of Talvivaara, commented: "Our team has mobilized very effectively and has worked extremely hard to mitigate the impact of the gypsum pond leak on our operations and the environment as much as possible. "Some of the results of this hard work are beginning to show in the stability and availability of the metals plant, which has been operating to encouraging levels over the past few weeks. We are putting a lot effort on the comprehensive water balance management measures and enhancing bioheapleaching performance. This work has progressed well, but it will take some time for the full benefits to be realized. "Challenges remain over the next few months. Due to the water balance we may temporarily have to lay off a number of our employees whilst mining activities remain suspended during the first half of the year. Every effort is being made to provide full support to all our employees and minimize the negative impact of these potential measures. "To achieve this, we are working very closely with employee representatives as part of a comprehensive consultation process. We have every confidence that the measures we are taking to preserve the long term financial stability of the Company will be of short duration and that we will be able to return to a sustainable ramp-up path towards full capacity during the second half of this year."Talvivaara's primary focus is on nickel and zinc and it uses a technology known as bioheapleaching to extract metals out of ore. Bioheapleaching makes extraction of metals from low grade ore economically viable. MF

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4 Jul 2014 15:48

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13 Jun 2014 14:54

Talvivaara To Delist In London, Remain On Helsinki Exchange

LONDON (Alliance News) - Talvivaara Mining Company PLC Friday said it plans to cease trading on the Main Market of the London Stock Exchange as it seeks to reduce the costs associated with the listing. Talviaara said there is no significant benefit in maintaining its London listing, given t

28 May 2014 07:13

Talvivaara Mining Pretax Loss Narrows

LONDON (Alliance News) - Talvivaara Mining Company PLC Wednesday reported that its first-quarter loss before income tax narrowed to 17.12 million euros from 31.73 million euros in the prior year quarter. Loss attributable to owners of the parent narrowed to 14.57 million euros from 21.01 m

21 May 2014 13:04

Talvivaara Mining Granted Deadline Extension For Reorganisation

LONDON (Alliance News) - Talvivaara Mining PLC Wednesday said it has been granted a deadline extension for submitting its proposals for its reorganisation programme. In a statement, the base metal producer with operations in Finland said it has been granted a deadline extension by the Dist

14 May 2014 08:09

UPDATE 1-Talvivaara plans to delist from London bourse

(Adds comment, background) HELSINKI, May 14 (Reuters) - Troubled Finnish nickel miner Talvivaara plans to delist its shares from the London Stock Exchange, leaving its only listing in Helsinki, in a bid to cut costs. Hurt by falling nickel prices and repeated production disruptions,

14 May 2014 06:10

Talvivaara plans to delist from London bourse

HELSINKI, May 14 (Reuters) - Troubled Finnish nickel miner Talvivaara plans to delist its shares from the London Stock Exchange, leaving its only listing in Helsinki, in a bid to cut costs. The firm said the London delisting, if approved at its shareholder meeting next month, would take ef

29 Apr 2014 05:17