Timminco Provides Update on Solar Grade Silicon Operations

TORONTO, ONTARIO--(Marketwire - July 22, 2009) - Timminco Limited ("Timminco" or the "Company") (TSX:TIM) provided an update today on its solar grade silicon operations.

For the second quarter of 2009, the Company produced 243 metric tons of solar grade silicon (also known as upgraded metallurgical silicon, or "UMSi"), operating three purification lines out of an available seven lines. Due to weak market conditions in the solar photovoltaic energy industry, the Company shipped 34 metric tons in the quarter, at an average selling price of $39 per kg.

In light of continuing weak demand for UMSi and its plan to maintain production at levels in line with customer orders, the Company is temporarily reducing its production to one purification line. This curtailment in production will allow the Company to further preserve working capital and save costs by temporarily reducing headcount by up to 60 employees. The Company expects to resume production of UMSi on the idled purification lines once demand recovers.

"Our shipments in the quarter and our decision to reduce production levels until demand recovers reflect the difficult market conditions in the current solar industry," stated John Fenger, President and Chief Operating Officer of Timminco. "In this challenging environment, we will continue to prudently manage our costs and preserve capital while preparing for an eventual recovery of the solar market."