Bloomberg reported that Talvivaara Mining Co, a Finnish nickel miner, rose the most in more than three years in London trading after meeting its 2011 output target.

The stock surged 28%, the most since November 26th 2008, to close at 255.3 pence. The company produced 16,087 tonnes of nickel in 2011 as compared with a forecast of 16,000 tonnes. Zinc output totaled 31,815 tonnes.

Production in 2011 was curtailed by extended maintenance in April and May 2011 at Talvivaara's plant in Sotkamo, eastern Finland. On October 7th 2011, the company lowered its 2011 output target to 16,000 tonnes from an April estimate of 22,000 to 28,000 tonnes and CEO Mr Pekka Pera announced he would quit.

Talvivaara reached a production record of 4,769 tonnes of nickel and 10,524 tonnes of zinc in the fourth quarter.

It said that "The availability of the metals recovery plant improved significantly during the quarter and after both production lines were brought back online in mid October 2011 was effectively at the level required to meet the 2012 production targets."

Talvivaara plans to produce 25,000 tonnes to 30,000 tonnes of nickel in 2012.

(Sourced from www.bloomberg.net)