Talvivaara Sotkamo, the subsidiary of Talvivaara responsible for the beleaguered mining operations in Sotkamo, will file for bankruptcy after failing to secure roughly ten million euros in short-term operating capital. Although trading on the shares of its listed parent company was suspended on Thursday afternoon, the fate of the subsidiary does not necessarily signal the end of Talvivaara.
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Talvivaara Sotkamo to file for bankruptcy
The fate of the mining company was sealed today after an investor told Talvivaara that it has decided against providing the operating capital, thus also causing the talks over a longer-term financing solution to collapse.