Talvivaara enters into an agreement with Terrafame Mining Oy on provision of services
Stock Exchange Release
Talvivaara Mining Company Plc
13 August 2015
Talvivaara enters into an agreement with Terrafame Mining Oy on provision of services
Following the bankruptcy of Talvivaara Sotkamo Ltd, Talvivaara Mining Company Plc ("Talvivaara" or the "Company") has financed its operations by providing administrative and technical services and by leasing certain critical machinery and equipment to the bankruptcy estate of Talvivaara Sotkamo under agreements entered into by the Company and the bankruptcy estate on 19 November 2014. Talvivaara has on 13 August 2015 signed an agreement on transferring the agreements to Terrafame Mining Oy, a company fully owned by the Finnish state-owned company Terrafame Oy. According to the agreement, Talvivaara will continue to provide the services on the same terms as previously applicable between the Company and the bankruptcy estate. The agreement is subject to completion of the transfer of the Sotkamo mining operations from the bankruptcy estate of Talvivaara Sotkamo Ltd to Terrafame Mining Oy.
Talvivaara continues its business with the target of securing sufficient financing to participate in the acquisition of the Sotkamo mining operations or securing a different financial and/or operative arrangement that will secure the continuance of the Company's eligible business and provide the best possible outcome for the stakeholders of the Company.
Enquiries
Talvivaara Mining Company Plc Tel: +358 20 712 9800
Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Talvivaaran Kaivososakeyhtiö Oyj via Globenewswire