October 10, 2013 - 15:42 GMT Location: London
KEYWORDS: Talvivaara , nickel , production , third quarter , Pekka Perä
Finnish nickel miner Talvivaara continued to suffer from low metal grades caused by excess water in the first three quarters of 2013, the company said on Wednesday October 10.
The company produced 2,595 tonnes of nickel and 5,645 tonnes of zinc in the third quarter of 2013, and 7,103 tonnes of nickel and 13,239 tonnes of zinc in the first three quarters, it said. Meanwhile, leaching of the ore produced by the restart of mining in May, following leakages at its gypsum pond, is proceeding well, Talvivaara said. A new heap section was completed in September and should begin contributing to production later this month. A maintenance stoppage was also carried out in September to reduce bottlenecking in the metals recovery plant. Weak nickel prices since the beginning of the year, as well as the effects of excess water on production levels, have dented Talvivaara’s liquidity more than had been expected, the company added. As a result, it is now carrying out an assessment of funding options in order to secure financial flexibility and sufficient liquidity