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Talvivaara reviewing targets as it awaits production re-start

Wed, 14th Nov 2012 07:57

Under-pressure nickel miner Talvivaara says that it is reviewing its fourth-quarter production targets after a widely-reported leak of waste water at a mine in Finland led to the temporary shutdown of operations.The leakage of the gypsum pond at the Sotkamo mine, which started two week ago, has now been stopped, Talvivaara announced on Wednesday. Most of the water that escaped has been contained within the mining concession area by the newly built fourth safety dam.However, and as press reports suggested yesterday, the discharge of waste water into a nearby lake before the fourth dam was built increased metal concentrations to harmful levels for life forms in these waters.The group said: "Metals concentrations in the downstream river have already clearly reduced following the stoppage of any leakage outside the mine area."In order to re-start production at the metals recovery plant, Talvivaara is now waiting for the Kainuu Centre for Economic Development, Transport and the Environment to grant permission.The mining group had said last week that it expected fourth-quarter output to exceed the 4,030 tonnes of nickel mined 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."The company's shares, which jumped in early trading on Wednesday to over 90p, are still down by over a third over the last month from the 140p level.

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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