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Talvivaara Mining Company Plc : Talvivaara Management Changes

Talvivaara Management Changes 15.11.12

Stock Exchange Release
Talvivaara Mining Company Plc
15 November 2012

Talvivaara Management Changes

The Board of Directors of Talvivaara Mining Company Plc ("Talvivaara" or the "Company") has decided to reorganize the management of the Company as of 15 November 2012 as follows:

  • Independent Non-Executive Director, Lic.Tech. Tapani Järvinen was appointed Chairman of the Board of Directors
  • M.Sc. Mining Pekka Perä was appointed Chief Executive Officer

Both appointments are of interim nature and in force until further notice and at least until the Company's operations have been stabilized following the recent events. The committee established by the Board of Directors on 9 November 2012 will, with the assistance of external experts, aim at supporting the Company's Board and management to ensure that similar events as those experienced recently will not be seen in the future and that the measures taken will under all circumstances be appropriate and sufficient.

Talvivaara's previous Chief Executive Officer, M.Sc. Mining Harri Natunen will continue in other executive functions within the Company.

Talvivaara will organize a Finnish language press conference on 15 November 2012 at 11.00 AM Finnish time at Scandic Hotel Simonkenttä, Simonkatu 9, Helsinki. An English language conference call will be held at 11.00 AM UK time / 1.00 PM Finnish time. The dial-in details are:

Participant Dial-In Numbers:
United Kingdom +44 (0) 1452 555566
Finland +358 (0) 9 2319 5187
United States +1 631 510 7498

Conference ID: #71852457

Enquiries

Talvivaara Mining Company Plc Tel: +358 20 7129 800
Tapani Järvinen, Chairman
Pekka Perä, CEO

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 and is included in the FTSE 250 Index. Further information can be found at www.talvivaara.com.