21st May 2014 13:04
LONDON (Alliance News) - Talvivaara Mining PLC Wednesday said it has been granted a deadline extension for submitting its proposals for its reorganisation programme.
In a statement, the base metal producer with operations in Finland said it has been granted a deadline extension by the District Court of Espoo, a city in Finland, until September 30. The reports had been due to be submitted to the court by May 28.
"The administrator and Talvivaara are engaged in discussions with potential financing and industrial partners for a long-term financing solution for the Talvivaara Group," the company said in a statement.
Talvivaara said that certain industrial and financial arrangements for the continuation of the company's operations and its subsidiary Talvivaara Sotkamo Ltd, have already been reached so that the restructuring programmes can be set up.
Talvivaara shares were trading 0.4% lower Wednesday afternoon at 7.37 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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