Talvivaara Mining Company Plc (TALV.L) has updated its fourth-quarter and full-year 2012 nickel production guidance to around 2,500t and 13,000t, respectively, reflecting the stoppage of its metals recovery plant between 4 and 21 November 2012 due to the prior announced gypsum pond leakage.
Earlier, the company anticipated ore production to re-start around year-end 2012, but the recent gypsum pond leakage and overall water balance issues have postponed the company's target for re-start of mining and crushing operations. Talvivaara now expects to re-commence ore production in mid-2013 once the open-pit has been de-watered and the overall water balance improvement measures have been implemented.
The total mineral resources, as defined by the JORC code, rose 32% to 2,053Mt from the total of 1,550Mt announced in October 2010. The increased resources include 4.5Mt of nickel and 10.3Mt of zinc, up from 3.4Mt and 7.6Mt in 2010, respectively.
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