Talvivaara: Terrafame has received the Administrative Court decision on the discharge pipeline

Stock Exchange Release
Talvivaara Mining Company Plc
28 April 2016

Terrafame has received the Administrative Court decision on the discharge pipeline

Talvivaara Mining Company Plc ("Talvivaara") has been informed that Terrafame has received today Vaasa Administrative Court rulings which include a decision on the Nuasjärvi discharge pipeline. The Vaasa Administrative Court allowed the usage of Terrafame's discharge pipeline, but set some restrictions for the water discharges.

Talvivaara announced on 28 January 2016 that it has signed a letter of intent with the Terrafame entities. In the letter of intent, the parties provisionally agreed on the essential terms and conditions for the sale of Talvivaara's assets related to the Sotkamo mining operations to Terrafame.The arrangement under the letter of intent is conditional on, amongst others, a favorable decision by the Vaasa Administrative Court on Nuasjärvi discharge pipeline, enabling the continuance of Terrafame's mining operations.

Talvivaara and Terrafame will continue to assess the decision and its effects on the contemplated arrangement concerning the sale of Talvivaara's assets relating to the Sotkamo mining operations. Talvivaara will inform the market in due course once the effects of the ruling relating to the arrangement under the letter of intent are known.

Even though the condition precedent relating to the Terrafame's Nuasjärvi discharge pipeline would be removed, there is no guarantee that Talvivaara and Terrafame entities will eventually be able  to successfully agree on the detailed contracts required by the arrangement or successfully complete them in their entirety.

Enquiries

Talvivaara Mining Company Plc Tel. +358 20 7129 800

Pekka Perä, CEO
Pekka Erkinheimo, Deputy Ceo