Talvivaara Mining Company
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| Public (: , Nasdaq Helsinki: TLV1V) | |
| Industry | Mining |
| Founded | 2004 |
| Headquarters | Espoo, Finland |
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Key people
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Tapani Järvinen (Chairman) Pekka Perä (CEO) |
| Products | Nickel and zinc mining |
| Revenue | €231.2 million (2011) |
| €30.9 million (2011) | |
| €(5.2) million (2011) | |
| Website | www.talvivaara.com |
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Aerial photograph of Talvivaara mine in Sotkamo, Finland. June 2013.
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| Location | |
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| Location | Sotkamo |
| Country | Finland |
| Production | |
| Products | Nickel, Copper, Zinc, Cobalt |
| Owner | |
| Company | Talvivaara Mining Company |
Tapani Järvinen (Chairman)
Talvivaara Mining Company plc (Finnish: Talvivaaran Kaivososakeyhtiö Oyj) is a Finnish-based nickel mining business operating in Finland. Formerly listed on the and , the company was a constituent of the OMXH25 index. Its mining business, Talvivaara Sotkamo, went bankrupt in November 2014, and it is bound for liquidation, with at least 98% of equity lost, and €1.4 million debt outstanding. The mine had suffered several leaks of toxic metal-contaminated tailings, which had threatened local waterways. Members of the management have been charged with criminal environmental offenses. There has been considerable government involvement, with the Government of Finland being the largest single owner through their investment company Solidium. In 2015, the newly established government-owned corporation Terrafame Oy bought the mining business of Talvivaara. In 2016, the government announced that mining will cease and the mine will undergo controlled shutdown.
The Finnish Association for Nature Conservation (FANC) demanded closing of Talvivaara mine in May 2013.
The deposits, Kuusilampi and Kolmisoppi, were originally discovered in 1977, by the Geological Survey of Finland (GTK). Although the deposit was large, it was considered too poor for existing technology. Only bioheap leaching could concentrate the nickel enough, but the technology was still untested. The mining rights were eventually obtained by Outokumpu Corporation, which sold them at a nominal price of two euros to a former employee, Pekka Perä. The Talvivaara Mining Company was established in 2004 when it acquired the rights to mine sites at Sotkamo in Eastern Finland from Outokumpu. In 2006 a metals recovery trial was completed and the necessary financing was secured. Perä proceeded to list the company on the in 2007 and later on the in 2009. The firm was delisted from the London Stock Exchange in 2014, this was to reduce costs according to information on their website.
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