Talvivaara weighing options after loan request declined

Nov 21, 2013 | 11:26 AM | Claire Hack

Tags  Talvivaara, Talvivaara Sotkamo, corporate reorganization, nickel mining, Claire Hack

LONDON — Finnish nickel miner Talvivaara Mining Co. Plc said its current cash position should see it comfortably into the first quarter of next year, but it is continuing to "assess all funding options available for a corporate reorganization" after failing to secure funding from a group of stakeholders.

Talvivaara made a financing proposal to a group of stakeholders for a €40-million ($54.1-million) restructuring facility, but the group said Nov. 20 that it couldn’t offer any further funding to support the process. Talvivaara is now assessing its options, including using its own available cash for the reorganization process.....

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