Talvivaara places dormant subsidiaries in liquidation and dismantles key employees' incentive system

Stock Exchange Release
Talvivaara Mining Company Plc
19 December 2014




    Talvivaara places dormant subsidiaries in liquidation and dismantles key
                          employees' incentive system

Talvivaara  Mining  Company  Plc's  ("Talvivaara"  or  the  "Company") currently
dormant  subsidiaries Talvivaara  Exploration Oy,  Talvivaara Infrastructure Oy,
Bream Lake Energy Oy, and Talvivaara Management Oy have on 19 December 2014 been
placed  in liquidation. Prior  to the decision  to liquidate these subsidiaries,
Talvivaara  converted all its  receivables from these  companies into equity and
the  subsidiaries wrote off all their  receivables from the bankruptcy estate of
Talvivaara  Sotkamo Ltd. Placing the subsidiaries in liquidation is in line with
the  Company's plan to simplify the group structure and leave the Company as the
single reporting entity.

The Board of Directors of Talvivaara has also dismantled the shareholding scheme
established  in 2010 for members of the Talvivaara Executive Committee and other
key  personnel of  the Talvivaara  Group. The  shareholding scheme was organized
through Talvivaara Management Oy, the sole purpose of which was to own shares in
the  Company  on  behalf  of  the  participants.  The  scheme  was dismantled by
Talvivaara   acquiring   all   shares  of  Talvivaara  Management  Oy  from  the
participants for a nominal purchase price.



Enquiries

Talvivaara Mining Company Plc Tel: +358 20 7129 800
Pekka Perä, CEO
Pekka Erkinheimo, Deputy CEO


[HUG#1882055]