Output issues hit Talvivaara

Suzie Neuwirth
FINNISH miner Talvivaara posted “disappointing” first quarter results yesterday, with losses of €23.9m (£20.3m).

The company, which is listed in London and Helsinki, attributed the poor financial performance to low metal production levels and the depressed nickel price.

Ore production has been suspended due to operational problems and is expected to start up again in May.

Talvivaara entered a number of financing arrangements in February to de-risk its balance sheet and improve its liquidity, including a €261m rights issue and a €100m refinanced loan.