Tue, 16 Jun, 2015 12:06:12 AM FTimes – STT Report, June 16  Harri Natunen showed Minister of Economic Affairs Olli Rehn (center) the site of Talvivaara mine in Sotkamo, on Monday. Photo – Lehtikuva. The government is looking for a solution to the mining operations of the nickel mining company Talvivaara as soon as possible.
The decision on the continuation of the mining operations is expected in June, said the Minister of Economic Affairs Olli Rehn during his visit to the Talvivaara subsidiary Sotkamo on Monday.
According to Rehn, the decision can no longer be stretched. The goal from the perspective of Talvivaara is to find a lasting solution in terms of environment, company finances as well as in the terms of regional economics, said Rehn.
An ideal candidate having expertise in mining operations and enough finances to run the company's operations is expected.
In March, British investment and capital advisory firm, Audley Capital Advisors LLP, announced it had entered a conditional asset purchase agreement to acquire the assets of Talvivaara Sotkamo from its Bankruptcy Estate.
Open pit water reservoir for the Talvivaara mine in Sotkamo on Monday. Photo – Str / Lehtikuva. The desired amount of finances was not found from the new partner during the negotiations. However, the negotiations still continue.
"Both parties in the negotiations from their point of view desire maximum outcome. We have also discussed with private investors," Rehn said.
Currently, it costs the government 11 million euros to run the mining operations through the Bankruptcy Estate.
Despite the urgent need of a new owner, public finances would still be needed in the early phases.
"The government cannot set out itself as an investor, however, the state has a reason to be an active player," Rehn said.
According to Rehn, in any case something has to happen on ownership arrangement as well as water management issues before the July heat wave.
"We can no longer evade decisions. The worst situation would be to do nothing. If we get to next winter without doing anything on the water situation, then we will have a real environmental catastrophe in our hands. The greatest risk is indecision," Rehn said emphatically.
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