TALV Talvivaara

 
TIDMTALV 
 
Stock Exchange Release 
 
Talvivaara Mining Company Plc 
 
30 November 2011 
 
 
 
 
 
 
 
                           Uranium Permitting Update 
 
Talvivaara receives European Commission approval for Uranium off-take agreement 
                            with Cameco Corporation 
 
 
Talvivaara  Mining Company Plc  ("Talvivaara") announces that  its contract with 
Cameco  Corporation  ("Cameco")  for  the  sale  of  uranium was approved by the 
Euratom   Supply   Agency   ("ESA"),   following   European   Commission  ("EC") 
authorisation.  The approval is the first step in the uranium permitting process 
and  a requirement  as part  of the  Finish government  licensing procedure. The 
authorisation  enables Talvivaara to sell its uranium production to Cameco under 
the terms of its off-take agreement. It also includes provisions which guarantee 
the security of uranium supply in the European Union. 
 
The  start of  production is  subject to  further EC authorization regarding the 
Euratom  Treaty,  Environmental  Permit  approval  and  license from the Finnish 
Government  to  extract  uranium  as  a  by-product.   The  Environmental Permit 
application  for uranium extraction was  submitted to the Regional Environmental 
Permitting  Agency  in  March  2011 and  the  decision on the permit is expected 
during  Q2 2012. In April 2010, Talvivaara applied to the Ministry of Employment 
and Economy for a license to extract uranium as a by-product, in accordance with 
the  Nuclear  Energy  Act.   The  application  is currently being processed  and 
approval  by the  Finnish Government  is expected  in early  2012. EC's approval 
pursuant tothe Euratom Treaty is also expected in early 2012. 
 
Pekka Perä, CEO, commented: "We are delighted by the news that our contract with 
Cameco for the off-take of uranium was approved by the ESA. We have successfully 
reached  the first milestone  in the permitting  process and we remain confident 
that,  with final  approvals over  the coming  period, we  will soon  be able to 
deliver  further value  from our  ore at  Talvivaara through  uranium by-product 
extraction." 
 
 
 
ENQUIRIES 
 
Talvivaara Mining Company Plc Tel: +358 20 7129 800 
Kari Vyhtinen, Chief Investment Officer 
 
 
 
 
 
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. 
 
 
 
 
Talvivaara - Uranium Permitting Update 30.11.2011: 
http://hugin.info/136227/R/1567542/487024.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#1567542] 
 

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