Stock Exchange Release
Talvivaara Mining Company Plc
16 February 2012
Talvivaara Management and
Board Changes
Highlights
Harri Natunen
appointed as CEO of Talvivaara; he will join the Company on 19 March 2012 and
start as CEO following the Annual General Meeting to be held on 26 April 2012
("AGM")
Saila Miettinen-Lähde appointed
as Deputy CEO, to be held concurrently with her position as CFO
Pekka Perä to become Executive Chairman subject
to reappointment to the Board by the AGM
Changes in management
Talvivaara Mining Company Plc ("Talvivaara"
or "the Company") announces today that Harri Natunen will join the Company on 19
March 2012 and succeed Pekka Perä as Chief Executive Officer ("CEO") with
effect from 26 April 2012, following Pekka Perä's decision to retire from
active operational duties. Saila Miettinen-Lähde has been appointed Deputy CEO,
with effect from 1 April 2012. She will hold the position concurrently with her
role as Chief Financial Officer of the Company.
Pekka Perä will become Executive Chairman
subject to reappointment to the Board by the AGM. Edward Haslam will retire from
the role of Chairman, but will continue as a Non-Executive Director.
Harri Natunen, 56, has over thirty years of
operational and managerial experience in the international mining industry,
including a long-term successful track record in the Finnish mining sector. Mr.
Natunen joined Outokumpu Mining Services in 1981 and spent some time at its
Finnish projects, including two years at the Talvivaara project between 1982 and
1983. He went on to work with the Group's international projects in Norway and
South America, where his experience included building management systems and
supervising the ramp-up of processes in early stage operations, such as the
Zaldivar copper bioheapleaching project in Chile, a joint venture between
Outokumpu and Placer Dome. As a result, Mr. Natunen has substantial experience
of technology driven mining projects, including in- depth knowledge of
bioheapleaching processes.
Mr. Natunen has also managed large operations
in full production such as Outokumpu's zinc division and ferrochrome operation
including the Kemi mine. He led the successful modernization of the Outokumpu
Kokkola zinc plant, focusing on streamlining the organization and improving cost
control, and almost doubling production at the operation. The Kokkola plant is
the second biggest zinc plant in Europe and the fifth biggest in the world. At
the moment he holds the position of Director, Zinc Production and Business
Development at Boliden AB in Sweden, with responsibility over the Kokkola,
Finland, and Odda, Norway, zinc operations.
Edward Haslam, Chairman, comments:
"Talvivaara has been very
close to my heart since I took on the role as Chairman in the summer of 2006.
What was then a mere pilot heap using a technology which had never yet been
applied for nickel has now been transformed beyond recognition into one of
Europe's largest mines. The last six years as Chairman have been challenging and
tremendously enjoyable, as I took part in this development process alongside a
team which has impressed me with its hard work and commitment, and I am happy to
continue to be involved closely with the Company as a Non-Executive Director.
With operational processes
running more smoothly and a very strong team in place I feel that Talvivaara is
approaching a turning point in its ramp-up and I cannot think of a better suited
candidate to take the Company forward than Harri. His experience spans two
continents and technology driven mining projects at every stage of development,
from pilot heap stage to large successful operations. He has left his mark
wherever he has worked, including at one of the world's most successful heap
leach operations at Zaldivar, Chile. I look very much forward to working with
Harri as he grows Talvivaara into full production."
Pekka Perä, CEO comments:
"I am delighted to announce
that Harri Natunen will succeed me as CEO of Talvivaara. Harri's successful
track record in the mining industry brings together both management and
on-the-ground operational experience at a wide range of mining projects in
Finland and beyond. His skill set could not have been a better match for
Talvivaara, a site he knows very well after spending two years at the Outokumpu
Talvivaara nickel pilot project between 1982 and 1983. I am confident that
Talvivaara's operations are in extremely competent pair of hands who, together
with the strong team on the ground, will bring the mine into full production
successfully.
I would also like to
congratulate Saila Miettinen-Lähde on her appointment as Deputy CEO. Saila will
use her considerable experience, talent and energy to support Harri in his new
role and to ensure continuity, with a particular focus on her on-going
responsibilities for the Group's financial management and Investor
Relations.
After eight challenging but
very enjoyable years as CEO, I am delighted to be able to offer my support and
experience to the continuing growth of the Company from my forthcoming position
as Executive Chairman of the Board. I would like to thank Edward Haslam for his
tremendous contribution to the Company throughout his 6 years as Chairman of the
Company. Edward devoted his extensive experience in the mining industry and his
hard work fully to Talvivaara as we grew the Company throughout a crucial
period. We are very pleased to be able to retain his expertise as a
Non-Executive Director."
ENQUIRIES
Talvivaara Mining Company Plc
Edward Haslam, Chairman Tel: +44 207 726 8400 (via Merlin
switchboard)
Pekka Perä, Chief Executive Officer Tel: +358
20 712 9800
Merlin PR Tel: +44 207 726 8400
David Simonson
Anca Spiridon
Talvivaara Mining Company Plc
Talvivaara Mining Company is an internationally significant base
metals producer with its primary focus on nickel and zinc using a technology
known as bioheapleaching to extract metals out of ore. Bioheapleaching makes
extraction of metals from low grade ore economically viable. The Talvivaara
deposits comprise one of the largest known sulphide nickel resources in Europe.
The ore body is estimated to support anticipated production for several decades.
Talvivaara has secured a 10-year off-take agreement for 100 per cent of its main
output of nickel and cobalt to Norilsk Nickel and entered into a long-term zinc
streaming agreement with Nyrstar NV. Talvivaara is listed on the London Stock
Exchange Main Market and NASDAQ OMX Helsinki and is included in the FTSE 250
Index. Further information can be found at www.talvivaara.com.