UPDATE 2-Miner Talvivaara Q3 loss deeper, sticks to target

Wed Nov 11, 2009 12:32pm GMT
 
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* Still on track for 2010 nickel output target

* Q3 loss 10.7 mln euros vs 9.4 mln

* Limited Q3 output due to restarting processing plant

* Sees nickel, zinc prices falling 15 pct in short term

* Shares up 2.5 percent

(Adds interview with CEO, analyst's comment, share price)

LONDON, Nov 11 (Reuters) - Finnish nickel and zinc miner Talvivaara (TALV.L) posted a deeper third-quarter loss on Wednesday due to weak output, but said it was over the worst of its production problems.

"All in all, our outlook remains positive for the remainder of the year, with the most challenging production problems now behind us," Chief Executive Pekka Per said.

"While sustained ramp-up of crushing according to plan continues to be critical, we remain confident that our 2010 production target of approximately 30,000 tonnes of nickel is achievable." The London-listed company, which started production last year, said its loss for the three months to end September deepened to 10.7 million euros ($16.0 million) from 9.4 million euros in the same period last year.  Continued...

 

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