TALV Talvivaara

 
TIDMTALV 
 
Stock Exchange Release 
 
Talvivaara Mining Company Plc 
 
3 April 2012 
 
 
 
                      Talvivaara Uranium Permitting Update 
 
 
 
Talvivaara  Mining Company Plc  ("Talvivaara" or the  "Company") has today on 3 
April  2012 been  verbally  informed  by  the  Northern  Finland  Regional State 
Administrative  Agency  that  the  Company's  Environmental  Permit  for uranium 
extraction  ("Uranium  Permit")  and  the  general  update  of Talvivaara mine's 
Environmental Permit are to be processed together. 
 
According  to  the  Northern  Finland  Regional  State Administrative Agency the 
hearing  time  for  the  general  update  of  the mine's Environmental Permit is 
anticipated  to start  in the  beginning of  May. Another  hearing time  for the 
Uranium Permit will commence concurrently. All statements and opinions submitted 
during the first hearing time will remain valid. 
 
As  there will be  a second hearing  time for the  Uranium Permit and it will be 
processed  together with the general update  of the mine's Environmental Permit, 
the  Company expects a minor delay in  the uranium permitting process. While the 
Company  has previously  announced that  it expects  the decision on the Uranium 
Permit  during Q2 2012, the permitting  authorities have now informed Talvivaara 
that  a decision on the Uranium Permit will be made during 2012. Talvivaara aims 
to  start uranium recovery  in 2012, as soon  as all the  necessary permits have 
been obtained. 
 
General information about Talvivaara's uranium recovery project 
 
On  1March 2012 the Finnish Government  granted a license  to Talvivaara Sotkamo 
Ltd. to extract uranium as a by-product from its existing operations. The permit 
pursuant  to the Nuclear  Energy Act is  valid throughout the  life of the mine, 
however, no longer than until the end of 2054. An appeal against the decision of 
the  Finnish Government has been launched  with the Supreme Administrative Court 
by an organization for environmental protection. 
 
Talvivaara  will invest EUR  45-50 million in the  recovery of uranium, of which 
Cameco Corporation, according to the off-take agreement approved by the European 
Commission,  will  cover  a  maximum  of  USD  60 million in the form of advance 
payments. During the construction phase, the project will employ several hundred 
people,  and  the  operational  plant  will  employ  20 people  directly  and an 
additional 50 indirectly. 
 
 
ENQUIRIES 
Talvivaara Mining Company Plc. Tel: +358 20 7129 800 
Pekka Perä, Chief Executive 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 3.4.2012: 
http://hugin.info/136227/R/1599621/504765.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#1599621] 
 

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