Mining Journal reported that Talvivaara Mining Co will sell new shares equivalent to 10% of outstanding stock to fund a EUR 50 to EUR 55 million expansion of the company’s metal processing capacity.

As per repot, Talvivaara will sell as many as 22.3 million shares to boost annual capacity to as high as 50,000 tonnes by 2012.

Talvivaara said in April 2009 that it wouldn’t likely meet a 2009 output target of 15,000 tonnes to 18,000 tonnes because of delays in crushing ore. The goal of 30,000 tonnes for 2010 remains unchanged.

Mr Pekka Pera CEO of Talvivaara said that "As soon as Western economies are out of the woods, because of the stimulus packages, there will be a deficit in supply. I anticipate that to happen before the end of 2010. We want to be prepared for that."

International Nickel Study Group said on May 19th 2009 that competitors OAO GMK Norilsk Nickel and Albidon Limited are shutting mines because of weak demand for nickel. Global nickel output exceeded demand for a 13th month in March as the pace of cutbacks lagged behind a decline in usage.

(Sourced from Mining Journal)