HELSINKI Thu Nov 6, 2014 3:06am EST
HELSINKI Nov 6 (Reuters) - Finnish nickel miner Talvivaara said on Thursday its subsidiary Talvivaara Sotkamo Ltd, which includes its actual mining assets, will apply for bankruptcy after failing to raise financing.
The parent company will continue its operations for the time being and aims to secure financing to buy the operations from Talvivaara Sotkamo, the company said.
Hurt by repeated production disruptions and environmental damage, Talvivaara last year suspended its mining operations at its only mine in northern Finland, and started a court-led debt restructuring process.
In September, its administrator proposed Talvivaara's debt would be cut by up to 99 percent in a eight-year restructuring plan. (Reporting By Jussi Rosendahl; editing by Susan thomas)
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