Talvivaara Mining Co Plc said that the ramp up of production at its mine in Finland was on track and it had agreed credit line to boost financial flexibility. The company reiterated its production guidance of 15,000 to 25,000 tonnes of nickel for the current year.

Talvivaara said that nickel production volumes had increased to more than 1,200 tonnes in June 2010 from 808 tonnes in May 2010 and 628 tonnes in April 2010. It added that zinc production during the second quarter has so far topped 5,500 tonnes.

It added that the three year, EUR 100 million revolving credit facility would be used for general corporate purposes. Nordea Bank, Handelsbanken and Sampo Bank are the lead arrangers.

Mr Pekka Pera CEO of Talvivaara said that "This is an important milestone for us because it increases our financial flexibility and range of options going forward."

(Sourced from www.reuters.com)