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Expert Views: Talvivaara Mining Company bankruptcy – financing the environmental risk

This case from Finland explains the issues under Environmental Liability Directive (ELD) legislation of financing remediation of the environmental damage caused by an industrial operator which has become bankrupt.

Talvivaara Mining Company
Talvivaara Mining Company was established in 2004 and started production in 2008. It operates an open pit nickel mine in Sotkamo in Eastern Finland with an annual production capacity of more than 10 million tonnes of ore. The metals are extracted by bioheap leaching, a method where natural bacteria living in the rock accelerate metal leaching by oxidation. Continue reading