Reuters reported that finnish nickel producer Talvivaara had discovered 54% more metal in its deposits lifting its shares after a slow ramp up of production at the mine.

Talvivaara Mining Company Plc's London listed shares gained 3.8% to 552.5 pence by 0745 GMT outperforming a 1.7% decline in the British mining index.

Mr Dominic O'Kane analyst at Liberum Capital in London said that underwhelming Q3 2010 production is outweighed by 54% resource increase to 3.4 million tonnes of contained nickel. At planned capacity of 50,000 tonnes nickel per annum this increases Talvivaara's mine life from 30 years to 53 years. The larger resource may allow the company to later boost annual output to 80,000 tonnes which would make the mine one the world's three biggest.

(Sourced from Reuters)