Talvivaara has licence granted by Finnish Government to extract Uranium

Talvivaara Mining is pleased to announce that it was granted licence today to extract vibratory screen manufacturer in europeuranium as a by-product from its existing operations following the decision of the Finnish Government, issued on 1.3.2012 pursuant to the Nuclear Energy Act. The permit is valid throughout the life of the mine, however, no longer than until the end of 2054.

Talvivaara's aim is to start uranium recovery in 2012, as soon as it has all the necessary permits. The start of uranium production is further subject to, among others, Environmental Permit approval and chemical authorisation. The Environmental Permit application for uranium extraction was submitted to the Regional Environmental Permitting Agency in March 2011 and the decision on the permit is expected during Q2 2012. The construction permit for building a recovery plant was already granted to the Company last year. The Finnish Government decision follows European Commission approval for...