Holding(s) in Company - (Flagging notification in accordance with Chapter 2, Section 10 of the Finnish Securities Market Act)

Stock Exchange Release
13 December 2010
Talvivaara Mining Company Plc.

Holdings in Company (Flagging notification in accordance with Chapter 2, Section
10 of the Finnish Securities Market Act)

Talvivaara Mining Company Plc ("Talvivaara") has on 13 December 2010 received
the attached flagging notification in accordance with Chapter 2, Section 9 of
the Finnish Securities Market Act from Ilmarinen Mutual Pension Insurance
Company ("Ilmarinen") regarding the shares of Talvivaara.

Ilmarinen has subscribed for Talvivaara's convertible bonds offered to
institutional investors exchangeable to a maximum of 3,595,613 shares. The total
number of shares held by Ilmarinen (9,939,905) and the shares available for
subscription on the basis of the convertible bonds (3,595,613) has increased to
5.03 % (over 5%) of the issued ordinary share capital and total voting rights
attached to shares in Talvivaara assuming that all of the convertible bonds are
exchanged to shares. Ilmarinen's interest in Talvivaara has been calculated
assuming that all of the convertible bonds are exchanged to shares and using
following number as the issued ordinary share capital and total number of rights
attached to shares in Talvivaara: 269,287,473.

Interpolation by Talvivaara Mining Company Plc:
The bonds will become exchangeable to Talvivaara's ordinary shares subject to
approval of the relevant resolution by the Extraordinary General Meeting of the
Talvivaara's shareholders. The Extraordinary General Meeting is expected to take
place no later than on 18 February 2011. Prior to the approval of the
Extraordinary General Meeting, bondholders will be entitled to exercise a cash
settlement right whereby the bondholders would receive a cash amount equal to
the market value of the shares notionally underlying the bonds, as detailed in
the terms and conditions. The issue size of the bonds is subject to increase by
a maximum of EUR 25 million to EUR 225 million pursuant to the greenshoe option
granted to BofA Merrill Lynch and J.P. Morgan being exercised prior to the
settlement date.

Attachment
1. Name of the target company

Talvivaara Mining Company Plc

2. Basis for the flagging obligation

Subscription of the convertible bonds on 9 December 2010.

3. Date when the holdings have changed

9 December 2010

4. Holdings of the target company's voting rights and share capital

Holding of Ilmarinen Mutual Pension Insurance Company in Talvivaara is the
following:

A) Shares and voting rights attached to them

Number of shares % of shares Number of % of voting rights
voting rights

9,939,905 3.69 9,939,905 3.69


B) Agreement or other arrangement

Resulting situation after the triggering transaction

Type of Expiration Number of % of Number of % of
agreement / Date shares that shares voting rights voting
other may be that may be rights
arrangement acquired if acquired if
the agreement the agreement
/ other / other
arrangement is arrangement is
exercised exercised


Convertible Conversion 3,595,613 1.34 3,595,613 1.34
Bonds period ending
on 16 December
2015




TOTAL (A B) Number of shares % of shares Number of voting % of voting
rights rights

  13,535,518 5.03 13,535,518 5.03




5. Name of shareholder and business identification code
Ilmarinen Mutual Pension Insurance Company, Business ID 0107638-1



ENQUIRIES
Talvivaara Mining Company Plc Tel: 358 20 7129 800
Saila Miettinen-Lähde, CFO
Timo Laatio, Investor Relations





Talvivaara Mining Co Plc - Holding(s) in Company - Flagging notification 13.12.2010:
http://hugin.info/136227/R/1471810/408455.pdf




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Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE

[HUG#1471810]


Unternehmen: Talvivaaran Kaivososakeyhtiö Oyj - ISIN: FI0009014716