Talvivaara Mining Co Plc. Capital Markets Day -Financial and operational update

STOCK EXCHANGE RELEASE
Talvivaara Mining Company Plc
1 December 2010

Capital Markets Day
Financial and operational update


Talvivaara Mining Company Plc ("Talvivaara" or the "Company") is holding a
Capital Markets Day for analysts and investors at the Intercontinental Hotel
Park Lane, London, today. The Capital Markets Day presentations will include an
update on operations and strategy as well as guidance on 2011 full year
production and planned capital and operating expenditure.

Highlights

   ·         2010 production guidance reiterated at 11,000-13,000t nickel and
28,000-30,000t zinc
   ·         2011 full year production guidance: 30,000-35,000t nickel;
65,000-70,000t zinc; 650-750t cobalt,
and minor amounts of copper
   ·         2011 full year capital expenditure estimated at EUR 70-80 million
   ·         2011 full year operating expenditure estimated at EUR 240-260
million including financial leasing
   ·         Estimated cash cost of production EUR 2.3/lb nickel in 2011; EUR
1.6/lb nickel in 2012


Operational update

All processes at the Talvivaara mine are currently operating well. The primary
heap reclaiming and secondary heap stacking systems are being put into
operational use during the current week, and leach solution from secondary
leaching is expected to be available for metals recovery during the month of
December.

Production guidance

Talvivaara anticipates its full year 2011 nickel and zinc production to amount
to 30,000-35,000t and 65,000-70,000t, respectively. Cobalt production is
expected to amount to 650-750t, while copper output is likely to be limited to
relatively minor amounts during the second half of 2011.

The Company continues to expect the annualized production rate of nickel to
reach 30,000t before the year end 2010 and the full scale production target of
50,000t nickel per annum to be achievable in 2012.

Capital and operational expenditure guidance

Due to cost overruns in earth works relating to the construction of the
secondary heap foundations, the guidance for 2010 capital expenditure is raised
from approximately EUR 100 million to EUR 120-130 million.

Full year capital expenditure for 2011 is estimated at EUR 70-80 million,
relating mainly to the construction of secondary heap foundations, waste rock
areas and a gypsum pond, and purchase of capital spare parts. The estimated EUR
40-50 million cost of the planned uranium extraction facility is not included in
the anticipated capital expenditure, as investment decision on the uranium plant
is still pending progress in permitting and a partnering agreement.

Full year 2011 operational expenditure is estimated at EUR 240-260 million
including an estimated EUR 15 million in financial leasing costs. The largest
cost items include chemicals (36%), contracting (15%), maintenance (12%) and
electricity (10%).


The live webcast and presentations of the Capital Markets Day starting at
09:30am UK/ 11:30 Finland are available on
www.axisto.com/webcasting/investis/talvivaara/capital-markets-day-
2010/index.htm.



ENQUIRIES

Talvivaara Mining Company Plc Tel: 358 20 7129 800
Pekka Perä, CEO
Saila Miettinen-Lähde, CFO

Merlin PR Tel: 44 207 726 8400
David Simonson
Anca Spiridon



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 sufficient to support anticipated production for at least 46 years.
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.




[HUG#1467351]





Talvivaara Capital Markets Day 01.12.2010:
http://hugin.info/136227/R/1467351/404975.pdf




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Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE


Unternehmen: Talvivaaran Kaivososakeyhtiö Oyj - ISIN: FI0009014716