News Column

Talvivaara Mining Pretax Loss Narrows

May 28, 2014

LONDON (Alliance News) - Talvivaara Mining Company PLC Wednesday reported that its first-quarter loss before income tax narrowed to 17.12 million euros from 31.73 million euros in the prior year quarter.

Loss attributable to owners of the parent narrowed to 14.57 million euros from 21.01 million euros in the previous year. Loss per share was 0.01 euros versus a loss of 0.07 euros in the previous year.

CEO Pekka PerÄ said, "Our first quarter 2014 results reflect an operationally steady period with best nickel and zinc production since the third quarter of 2012. Our new ore heaps, primary heaps 1 and 4, demonstrated very good leaching performance after having started to contribute to our metals production towards the end of 2013. Our metals recovery plant also performed uneventfully, which, together with the improvements in bioheapleaching, gives us confidence that our processes have come of age and can be operated in a reliable, industrial fashion."

Quarterly net sales grew to 29.01 million euros from 27.61 million euros in the prior year.

Talvivaara's net sales for nickel and cobalt deliveries to Norilsk Nickel during the quarter ended 31 March 2014 amounted to 29.0 million euros, compared to 27.6 million euros in the previous year.

Talvivaara produced 3,068t (2,732t last year) of nickel and 5,726t (3,128t last year) of zinc during first-quarter of 2014.

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Source: Alliance News

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