Talvivaaran Kaivososakeyhtio Oyj Starts Cooperation Consultations for Temporary Layoffs

Wednesday, 16 Jan 2013 02:00am EST 

Talvivaaran Kaivososakeyhtio Oyj announced that to support the Company's cost savings initiatives and overall efficiency, and to adjust the level of personnel to the temporarily suspended ore production, the Company is considering temporary layoffs. The Company estimates that the maximum number of employees impacted is 230 and that the estimated maximum duration of the layoffs would be 90 days between February 18, 2013 and June 30, 2013. All three corporate entities: Talvivaara Mining Company Plc, Talvivaara Sotkamo Ltd and Talvivaara Exploration Ltd are within the scope of the consultations. Talvivaara has invited employee representatives to cooperation consultations in accordance with the applicable law. 

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