Talvivaara to investigate the recovery of uranium as a separate product from its ore body
(Thomson Reuters ONE) - STOCK EXCHANGE RELEASETalvivaara Mining Company Plc 9 February 2010 at 8.00a.m Finnish time, 06.00a.mUK timeTalvivaara to investigate the recovery of uranium as a separate product from itsore bodyTalvivaara Mining Company Plc ("Talvivaara" or the "Company") is planning toinitiate the recovery and exploitation of uranium, obtained as a by-product ofother metals, in the form of a uranium intermediate, yellow cake.Natural uranium is a commonly occurring element which is also present in lowconcentrations in the Talvivaara ore body. In Talvivaara's bioheapleachingprocess, small concentrations of uranium leach into the process solution alongwith the Company's main products. Talvivaara is now investigating the potentialto modify its production process so that the uranium contained in the solutioncan be utilised as yellow cake. In the Company's present production process,extremely small concentrations of uranium are deposited in an engineered gypsumpond intended for process precipitations.The Company plans to recover the uranium from its main leaching process by usinga safe and technically simple solvent extraction process which is widely appliedto metals recovery. This process modification will not alter discharge levels orother environmental impacts of the operations, as defined in Talvivaara'scurrent Environmental Permit. Talvivaara has drawn up tentative process plansin cooperation with Outotec Oyj and Norilsk Nickel Harjavalta Oy.In the Talvivaara area, the bedrock and nickel ore naturally contain uranium.However, surveys conducted by the Geological Survey of Finland have not revealedany abnormal radiation levels, with all measured values reported by the FinnishRadiation and Nuclear Safety Authority (STUK) within normal background radiationlevels. Radiation levels of natural uranium will not change during the solventextraction process.Talvivaara is currently preparing necessary documentation for permitapplications and continuing its investigations relating to the utilisation ofuranium.The planned investment in the solvent extraction plant is estimated atapproximately EUR 30 million. Annual production costs are estimated atapproximately EUR 2 million and the annual production volume is estimated atapproximately 350 tonnes. The extraction plant is expected to employ around 20people directly and some 50 people indirectly. Talvivaara is currently indiscussions with leading companies in the industry regarding a potentialcooperation for this project, after which its final financing and operatingmodel will be determined.The uranium oxide generated in the solvent extraction process will be packagedin airtight steel containers and transported for further processing, subject toappropriate supervision. The product purchaser will handle the furtherprocessing into nuclear fuel abroad, since Finland does not currently have anyconversion or enrichment plants for uranium. Production is controlled by strictnational and international regulations and continuous monitoring which guaranteesafe operation. The volumes produced by Talvivaara would make Finland almostself-sufficient with respect to uranium.CEO Pekka Per?commented: "The current project looks at exploiting valuablemetals present in our ore body as by-products, as provided for by the Finnishmining legislation. The development of our solvent extraction methoddemonstrates the innovative skills of our internal team and of our partnerorganisations and is a perfect fit with our strategy of carefully recoveringprecious and useful substances from our ore.The recovery of uranium is a major achievement for both Talvivaara and its homeprovince, Kainuu, further increasing the value, importance and vitality of thisproject."Enquiries:Talvivaara Mining Company Plc. tel. +358 20 712 9800Pekka Per?CEO,Saila Miettinen-L?e, CFOLassi Lammassaari, Chief Operations OfficerPress conference (in Finnish)Time: Tuesday 9 February 2010 at 2.30 p.m.Location: Scandic Kajanus, Meeting Room 3Present: Talvivaara representativesPekka Per?CEOEeva Ruokonen, Chief Sustainability OfficerLassi Lammassaari, Chief Operations OfficerLocal briefing event for citizens of Talvivaara's neighbouring region:Time: Wednesday 10 February 2010 at 7.00 p.m.Location: Sokos Hotel Vuokatti, AuditoriumPresent: Talvivaara representativesPekka Per?CEOEeva Ruokonen, Chief Sustainability OfficerLassi Lammassaari, Chief Operations OfficerHeikki Kovalainen, Environmental ManagerExpertsEsko Ruokola, Chief Specialist, Radiation and Nuclear Safety Authority (STUK)Dina Solatie, Head of Laboratory, Radiation and Nuclear Safety Authority (STUK),Regional Laboratory of Northern FinlandOlli ?k? Geologist, Geological Survey of FinlandPresentation and backgraound information: www.talvivaara.com
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Datum: 09.02.2010 - 01:03 Uhr
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