Already a Bloomberg.com user?
Sign in with the same account.
(Updates with closing share price in sixth paragraph.)
Nov. 15 (Bloomberg) -- Talvivaara Mining Co. said its mine in Finland already has approval to keep operating from regional authorities after Environment Minister Ville Niinistoe told a state broadcaster today the site must “quickly” cut pollution.
Investigators responsible for making sure the nickel mine meets the requirements of its environment permit didn’t find any reason to close the site in a recent probe, Chief Executive Officer Pekka Pera said in a phone interview today.
Niinistoe said the law allows for closing mines to prevent irreparable damage to nature, the state-run YLE reported on its website today, after Talvivaara faced complaints that pollution levels in nearby lakes are too high. Discharges into the lakes kept falling last quarter, the company said in a Nov. 9 report.
The company has “meaningfully” cut pollution, said Pera, who plans to step down as CEO in coming months. Still, “closure is always the ultimate possibility” for any industry with an environmental permit, he said. “Mining is no different.”
The company’s license doesn’t include a limit on emissions of sodium sulfate and manganese from the site, Pera said.
Talvivaara declined 2.4 percent to 200.5 pence by the close of trading in London.
--Editor: Tony Barrett, Reed Landberg
To contact the reporter on this story: Kati Pohjanpalo in Helsinki at firstname.lastname@example.org
To contact the editor responsible for this story: Amanda Jordan at email@example.com