Talvivaara Mining Company Plc Management and Board Changes 2012

Stock Exchange Release

Talvivaara Mining Company Plc

16 February 2012





Talvivaara Management and Board Changes



Highlights

* Harri Natunen appointed as CEO of Talvivaara; he will join the Company on
19 March 2012 and start as CEO following the Annual General Meeting to be
held on 26 April 2012 ("AGM")
* Saila Miettinen-Lähde appointed as Deputy CEO, to be held concurrently with
her position as CFO
* Pekka Perä to become Executive Chairman subject to reappointment to the
Board by the AGM



Changes in management

Talvivaara Mining Company Plc ("Talvivaara" or "the Company") announces today
that Harri Natunen will join the Company on 19 March 2012 and succeed Pekka Perä
as Chief Executive Officer ("CEO") with effect from 26 April 2012, following
Pekka Perä's decision to retire from active operational duties. Saila Miettinen-
Lähde has been appointed Deputy CEO, with effect from 1 April 2012. She will
hold the position concurrently with her role as Chief Financial Officer of the
Company.

Pekka Perä will become Executive Chairman subject to reappointment to the Board
by the AGM. Edward Haslam will retire from the role of Chairman, but will
continue as a Non-Executive Director.

Harri Natunen, 56, has over thirty years of operational and managerial
experience in the international mining industry, including a long-term
successful track record in the Finnish mining sector. Mr. Natunen joined
Outokumpu Mining Services in 1981 and spent some time at its Finnish projects,
including two years at the Talvivaara project between 1982 and 1983. He went on
to work with the Group's international projects in Norway and South America,
where his experience included building management systems and supervising the
ramp-up of processes in early stage operations, such as the Zaldivar copper
bioheapleaching project in Chile, a joint venture between Outokumpu and Placer
Dome. As a result, Mr. Natunen has substantial experience of technology driven
mining projects, including in- depth knowledge of bioheapleaching processes.

Mr. Natunen has also managed large operations in full production such as
Outokumpu's zinc division and ferrochrome operation including the Kemi mine. He
led the successful modernization of the Outokumpu Kokkola zinc plant, focusing
on streamlining the organization and improving cost control, and almost doubling
production at the operation. The Kokkola plant is the second biggest zinc plant
in Europe and the fifth biggest in the world. At the moment he holds the
position of Director, Zinc Production and Business Development at Boliden AB in
Sweden, with responsibility over the Kokkola, Finland, and Odda, Norway, zinc
operations.



Edward Haslam, Chairman, comments:

"Talvivaara has been very close to my heart since I took on the role as Chairman
in the summer of 2006. What was then a mere pilot heap using a technology which
had never yet been applied for nickel has now been transformed beyond
recognition into one of Europe's largest mines. The last six years as Chairman
have been challenging and tremendously enjoyable, as I took part in this
development process alongside a team which has impressed me with its hard work
and commitment, and I am happy to continue to be involved closely with the
Company as a Non-Executive Director.

With operational processes running more smoothly and a very strong team in place
I feel that Talvivaara is approaching a turning point in its ramp-up and I
cannot think of a better suited candidate to take the Company forward than
Harri. His experience spans two continents and technology driven mining projects
at every stage of development, from pilot heap stage to large successful
operations. He has left his mark wherever he has worked, including at one of the
world's most successful heap leach operations at Zaldivar, Chile. I look very
much forward to working with Harri as he grows Talvivaara into full production."


Pekka Perä, CEO comments:

"I am delighted to announce that Harri Natunen will succeed me as CEO of
Talvivaara. Harri's successful track record in the mining industry brings
together both management and on-the-ground operational experience at a wide
range of mining projects in Finland and beyond. His skill set could not have
been a better match for Talvivaara, a site he knows very well after spending two
years at the Outokumpu Talvivaara nickel pilot project between 1982 and 1983. I
am confident that Talvivaara's operations are in extremely competent pair of
hands who, together with the strong team on the ground, will bring the mine into
full production successfully.

I would also like to congratulate Saila Miettinen-Lähde on her appointment as
Deputy CEO. Saila will use her considerable experience, talent and energy to
support Harri in his new role and to ensure continuity, with a particular focus
on her on-going responsibilities for the Group's financial management and
Investor Relations.

After eight challenging but very enjoyable years as CEO, I am delighted to be
able to offer my support and experience to the continuing growth of the Company
from my forthcoming position as Executive Chairman of the Board. I would like to
thank Edward Haslam for his tremendous contribution to the Company throughout
his 6 years as Chairman of the Company. Edward devoted his extensive experience
in the mining industry and his hard work fully to Talvivaara as we grew the
Company throughout a crucial period. We are very pleased to be able to retain
his expertise as a Non-Executive Director."


ENQUIRIES

Talvivaara Mining Company Plc
Edward Haslam, Chairman Tel: +44 207 726 8400 (via Merlin switchboard)
Pekka Perä, Chief Executive Officer Tel: +358 20 712 9800

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 estimated to support anticipated production for several decades.
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 atwww.talvivaara.com.




Talvivaara Management and Board change 16.2.2012:
http://hugin.info/136227/R/1586423/497291.pdf




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Source: Talvivaaran Kaivososakeyhtiö Oyj via Thomson Reuters ONE

[HUG#1586423]


Unternehmen: Talvivaaran Kaivososakeyhtiö Oyj - ISIN: FI0009014716