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Talvivaaran Kaivososakeyhtio Oyj (TLV1V.HE)

TLV1V.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Talvivaara says banks request cancellation of bankruptcy application
Wednesday, 29 Mar 2017 10:29am EDT 

Talvivaara : Status of talvivaara's corporate reorganization - banks requested cancellation of the bankruptcy application . Talvivaara Mining Company Plc has today been informed that Finnvera Plc, Nordea Bank AB, Danske Bank Plc, OP Corporate Bank Plc and Svenska Handelsbanken AB have requested the cancellation of the bankruptcy matter initiated at the District Court of Espoo on 22 March 2017 . Cancellation request has no effect on banks' requests for cessation of reorganization proceedings or on their objection to confirmation of restructuring programme . The proceedings regarding the confirmation request filed by the Administrator on 6 March 2017 continue at the District Court of Espoo .The Company anticipates the District Court to announce its decision in the matter in the next few weeks.  Full Article

Banks want Talvivaara to be placed in bankruptcy
Thursday, 23 Mar 2017 09:47am EDT 

Talvivaara : Says has been notified that Finnvera Plc, Nordea Bank AB (Publ.), Finnish branch, Danske Bank Plc, OP Corporate Bank Plc and Svenska Handelsbanken AB, Finnish branch have given a response to the District Court where they have objected the confirmation of Talvivaara's restructuring programme, requesting the cessation of the corporate reorganization proceedings and placing the company in bankruptcy . says bondholders' representative on turn supports the confirmation of the restructuring programme . says the company's view is that it has fulfilled the special conditions set for the entry into force of the restructuring programme, as they were approved by the creditors in the creditors' voting procedure . says anticipates district court of Espoo to announce its decision in the matter in next few weeks . Talvivaara, which used to own a nickel mine in northern Finland, was pushed into debt restructuring in 2014 following production problems, environmental damage and a drop in nickel prices Further company coverage: [TLV1V.HE] (Helsinki Newsroom) ((news@reuters.fi; +358 9 6805 0244)).  Full Article

Talvivaara says administrator requests confirmation of restructuring program
Monday, 6 Mar 2017 09:01am EST 

Talvivaara : Says the administrator of the company's corporate reorganization proceedings has today filed a request for confirmation of the restructuring program to the district court of Espoo . Says according to administrator's request, all special conditions set for confirmation and entry into force of restructuring program have been fulfilled .Says anticipates the court to announce its decision regarding the confirmation of the restructuring programme in the next few weeks.  Full Article

Finland's Talvivaara extends conversion issue
Wednesday, 21 Dec 2016 03:41am EST 

Talvivaaran Kaivososakeyhtio Oyj :says the subscription period of Talvivaara Mining Company Plc's directed conversion issue, initially set to expire on 22 December 2016 will be extended to expire on 28 December 2016 at 4:00 PM Finnish time.  Full Article

Talvivaara signs the sale of mining-related assets to Terrafame
Friday, 1 Jul 2016 10:38am EDT 

Talvivaara : Talvivaara and Terrafame have executed agreements on the sale of mining-related assets to Terrafame . All main assets of Talvivaara previously generating income for Talvivaara have been transferred to Terrafame . Parties agree on sale of Talvivaara's assets related to Sotkamo mining operations and settlement of Talvivaara's guarantee liabilities under loan and streaming holiday agreement . Purchase price for assets sold consists of two components; cash component is of 1.4 million euros ($1.55 million)payable by Terrafame, which has been paid to company at closing .Extraordinary general meeting of shareholders will be separately convened to address the matter.  Full Article

Talvivaaran discharge pipeline receives court approval
Thursday, 28 Apr 2016 02:50am EDT 

Talvivaaran Kaivososakeyhtio Oyj:Says Terrafame has received administrative court decision on discharge pipeline.Says court allowed usage of Terrafame's discharge pipeline, but set some restrictions for water discharges.Says Talvivaara and Terrafame will continue to assess the decision and its effects on the arrangement concerning the sale of Talvivaara's assets relating to the Sotkamo mining operations.  Full Article

Talvivaaran says may take a stake in Terrafame
Thursday, 28 Jan 2016 06:35am EST 

Talvivaaran Kaivososakeyhtio Oyj:Says has signed a letter of intent for the sale of mining related assets to state-owned Terrafame.Terrafame Ltd shall pay to Talvivaara a total net purchase price of 3.8 million​ euros.Talvivaara says ‍will have a possibility to become owner of Terrafame Ltd with a stake of at least 10.1 percent if it can raise funds.  Full Article

Talvivaaran Kaivososakeyhtio says Belgium's Nyrstar assigns Talvivaara receivables to Terrafame
Monday, 7 Dec 2015 03:00am EST 

Talvivaaran Kaivososakeyhtio Oyj:Says Nyrstar has assigned its receivables from Talvivaara to Terrafame group, owned by the state of Finland.Terrafame Ltd acquired the business operations and assets of Talvivaara Sotkamo Ltd from its bankruptcy estate in August 2015 and is operating the Sotkamo nickel mine.Talvivaara says continues its negotiations with Terrafame Group and prospective investors with a target of being able to invest in Sotkamo mining operations or to secure a different financial and/or operative arrangement that will enable continuance of company's viable business.  Full Article

Talvivaaran Kaivososakeyhtio Oyj executive charged with insider trading - Reuters
Monday, 19 Oct 2015 08:00pm EDT 

Talvivaaran Kaivososakeyhtio Oyj:A member of Talvivaara's executive committee has been charged with misuse of insider information, the Helsinki District Court said on Tuesday, amid mounting legal trouble for the nickel mining company - Reuters.The court said charges had been brought against chief corporate development officer Lassi Lammassaari in connection with trades in Talvivaara's shares in 2011-2012 - Reuters.Lammassaari, chief executive Pekka Pera and two other Talvivaara executives already stand accused of environmental offences related to the design and operation of the mine in northern Finland, which led to waste water leaks in 2012 - Reuters.Following environmental problems, production disruptions and a drop in nickel prices, the subsidiary that owns the mining assets last year applied for bankruptcy protection, while the listed parent company has been going through debt restructuring - Reuters.  Full Article

Talvivaaran Kaivososakeyhtio Oyj agrees to provide services to Terrafame Mining
Thursday, 13 Aug 2015 02:18am EDT 

Talvivaaran Kaivososakeyhtio Oyj:Entered into an agreement with Terrafame Mining Oy on provision of services.Will continue to provide administrative and technical services and to lease machinery to the Talvivaara Sotkamo bankruptcy estate on the same terms as previously.Target is to secure sufficient financing to participate in the acquisition of the Sotkamo mining operations or to secure a different financial arrangement to continue business.  Full Article

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Troubled Finnish nickel mine says could still avoid closure

HELSINKI, Nov 7 Finland's biggest nickel mine, which was bailed out by the government last year, could secure new investors by the end of December to avoid being closed down and is on track to become profitable by 2018, its state owner said.