Bloomberg reported that Talvivaara Mining Co, the owner of a Finnish nickel mine, fell the most on record in London trading after cutting its output estimate, warning of a strike and announcing the departure of CEO Mr Pekka Pera.

Talvivaara slid as much as 29%, the biggest decline since starting to trade in May 2007. The company cut its 2011 production forecast to 16,000 tonnes from an April estimate of 22,000 tonnes to 28,000 tonnes. Metal workers in Finland have said they may strike in October 21st 2011 to November 7th 2011.

The nickel producer has seen results hampered by a plant stoppage in April and May, and falling prices. Nickel for three month delivery on the London Metal Exchange has tumbled 29% in six months as a slowdown in economic growth erodes demand for the metal used in stainless steel.

Talvivaara produced 3,153 tonnes of nickel in the third quarter and 11,319 tonnes in the first nine months of the year.

(Sourced from www.bloomberg.net)