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Talvivaara Mining Company
Type Public (LSE: TALV, OMXTLV1V)
Founded 2004
Headquarters Espoo, Finland
Key people Edward Haslam, Chairman
Pekka Perä, CEO
Industry Mining
Operating income (4.3) million (2008)
Net income 5.8 million (2008)
Website www.talvivaara.com

Talvivaara Mining Company plc (Finnish: Talvivaaran Kaivososakeyhtiö Oyj, LSE: TALV, OMXTLV1V) is an Finnish-based nickel mining business operating in Finland. Listed on the London and Helsinki Stock Exchanges, the company is a constituent of the FTSE 250 and a former member of the OMXH25 index.

Contents

History

The company was established in 2004 when it acquired the rights to mine sites at Sotkamo in Eastern Finland from Outokumpu. In 2006 a metals recovery trial was completed and the necessary financing was secured.[1] The appropriate permits to commence mining were obtained in 2007 and metals production is started late in 2008.[2] In 2010 the company announced the commencement of uranium production as a by-product from its normal mining operations in Sotkamo. The uranium produced will be in the form of Yellowcake with an estimated annual production of approximately 350 tons. At a Yellowcake price of $40/lb the uranium production could resulting in an additional €20m annual revenue line with capital investment costs of €30m and estimated annual production cots of €2m[3]. The resulting uranium production is estimated to meet 80% of Finland's annual uranium demand, although reprocessing and enrichment would be required to be conducted abroad, and would effectively double the production of uranium in the EU [4].

Sales

Norilsk Nickel, the world's leading producer of nickel, has made a 10-year contract with Talvivaara Mining Company to purchase the latter's entire output of the nickel and cobalt production at market prices.[5]

Operations

The company's activities are concentrated in Sotkamo. It operates the following mines:

  • Kuusilampi
  • Kolmisoppi

References

External links

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