Talvivaara Mining Company Plc Management and Board Changes 2012

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 atwww.talvivaara.com.


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