Mine Production

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By Sarah Gravlee

Story Published: Dec 1, 2008 at 8:53 PM MDT

Story Updated: Dec 1, 2008 at 8:53 PM MDT

BILLINGS - While about 200 union members returned to work at the East Boulder Mine this weekend, about 200 union employees are still without a job following restructuring of the Stillwater Mining Company.

The restructuring also includes a cut in production for next year. Before the economic slow down, Stillwater Mining officials projected they would harvest about 525,000 ounces of platinum and palladium between their two mines. They're now expecting to harvest 490,000 ounces.

The biggest cuts come from the East Boulder Mine where they're expecting to harvest about 60,000 fewer ounces than last year. John Beaudry with the Stillwater Mining Company says these changes should help them through the rough economic times.

"We think we and be cash neutral or slightly cash positive with this restructuring plan and for the next 18-to-24 months get through the current economic situation," Beaudry said. Beaudry added that the company hopes to increase production when the price of metal goes back up.

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