Talvivaara Management Change
October 07 2011 - 2:12AM
UK Regulatory
TIDMTALV
Stock Exchange Release
Talvivaara Mining Company Plc
7 October 2011
Talvivaara Management Change
Talvivaara Mining Company Plc ("Talvivaara" or "the Company") announces today
that Pekka Perä, the Chief Executive Officer ("CEO"), has stated to the Board
his decision to retire from active executive duties over the coming months.
Consequently, the Company will seek to appoint a new CEO at the earliest
opportunity, and Mr Perä has agreed to continue with his current duties until
that time. Mr Perä has also confirmed that he intends to continue as an active
member of the Board and to retain his current shareholding in the Company.
The Board has commenced a search for a new CEO and will update the market as
appropriate, to ensure a smooth handover of responsibilities and effective
transition.
Edward Haslam, Chairman of Talvivaara said: "Pekka Perä has worked tirelessly on
behalf of the Company over the past eight years since its foundation,
successfully bringing the Talvivaara assets into production over a remarkably
short period of time."
"Pekka's decision to retire from the day to day running of the Company is part
of Talvivaara's on-going transformation from a start-up project to a fully
operating mining company and we are delighted that he will continue to provide
his support, invaluable expertise and guidance on the Board of Directors, where
he will retain an active role which will help guide the Company through its next
stage of development."
Pekka Perä, CEO commented: "Bringing Talvivaara from greenfield site into a
producing nickel mine over the last eight years, although not without its
challenges, has been an immensely rewarding experience. As the Company enters
the final phase of its development into full production, I remain committed to
delivering value for shareholders."
ENQUIRIES
Talvivaara Mining Company Plc
Edward Haslam, Chairman Tel: +44 207 726 8400 (via Merlin switchboard)
Pekka Perä, Chief Executive Officer Tel: +358 20 712 9800
Merlin PR Tel: +44 207 726 8400
David Simonson
Anca Spiridon
CONFERENCE CALL
A conference call on the operational and management update will be held on 7
October 2011 at 10:00 GMT/12:00 EET. The call will be held in English.
Participant - Finland: +358 (0)9 23 114 173
Participant - UK: +44 (0)1452 569 372
Conference ID: 17197066
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 atwww.talvivaara.com.
Talvivaara Management Change:
http://hugin.info/136227/R/1552916/478543.pdf
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: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE
[HUG#1552916]
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