22 Oct 2009 11:00
22 October 2009
Talvivaara Mining Company Plc
Crushing enhancement and ramp up of mining
Talvivaara Mining Company Plc ("Talvivaara" or the "Company"), the Finnish mining company with a primary focus on nickel and zinc, is pleased to announce that its upgraded crushing circuit has been successfully installed and commissioned.
The redesigned crushing circuit has been in operation since the beginning of September, during which period the production volumes have been gradually increased. The circuit's overall production rate on a weekly basis is now in excess of an average of 40,000 tonnes per day, with volumes in excess of 50,000 tonnes per day being reached on individual days. While further optimisation and capacity testing of the process remains to be done, the production volumes achieved so far indicate the circuit to be capable of the targeted production rate of 60,000 tonnes per day, corresponding to 22 million tonnes per annum. With ore hauling capacity limiting the throughput for the time being, the Company is confident the targeted production volumes will be achievable following the commissioning of additional ore hauling capacity early next year.
Talvivaara's CEO Pekka Perä commented:
"I am pleased to report that for the first time in the Company's history, mining and materials handling departments are operating above budgeted tonnages. While there is still work to be done, I am delighted that all the production processes are finally reaching the required capacities."
ENQUIRIES
Talvivaara Mining Company Plc Tel: +358 20 712 9800
Pekka Perä, CEO
Saila Miettinen-Lähde, CFO
Merlin Tel: +44 207 653 6620
Tom Randell
About Talvivaara Mining Company Plc.
Talvivaara is a Finnish mining company operating a large open pit nickel mine in Sotkamo, Finland. Talvivaara aims to become 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 sufficient to support anticipated production for at least 46 years. Talvivaara has secured a 10-year off-take agreement for 100 per cent of its main output of nickel and cobalt to Norilsk Nickel. 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.