Talvivaara completes first stage of uranium licensing
Talvivaara Mining, the Finland focused nickel and zinc miner, has won European Union approval to sell uranium to Canadian uranium firm Cameco Corporation.
Talvivaara Mining, the Finland focused nickel and zinc miner, has won European Union approval to sell uranium to Canadian uranium firm Cameco Corporation.
The approval is the first step in Talvivaara completing the "uranium permitting process".
Before production can go ahead there are several more hoops to jump through, including Environmental Permit approval and a licence from the Finnish Government to extract uranium as a by-product.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Talvivaara owns a huge nickel mine in Sotkamo, central Finland, considered one of the biggest deposits of sulphide nickel in Europe. It's from the ore produced at Sotkamo that the firm intends to extract uranium.
The company says it expects decisions on the next stages of its applications to be complete by the middle of 2012.
Talvivaara's Chief Executive Pekka Pera said of the EU's decision: "We are delighted by the news that our contract with Cameco for the off-take of uranium was approved by the ESA. We have successfully reached the first milestone in the permitting process and we remain confident that, with final approvals over the coming period, we will soon be able to deliver further value from our ore at Talvivaara through uranium by-product extraction."
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Inflation holds steady at 3.8% ahead of BoE meeting
The rate of inflation did not rise in August, but the Bank of England is still expected to keep interest rates on hold tomorrow
-
Thousands of savers with £250k pensions take cash over tax-free money and IHT fears
With a record £70 billion withdrawn from pensions in the year to March, experts are concerned savers are making knee-jerk decisions without advice that could affect their long term wealth