Stillwater Mining Company Recovers

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By Kyle Midura

Story Published: Nov 5, 2009 at 11:10 PM MST

Story Updated: Nov 6, 2009 at 1:42 PM MST

BILLINGS - After losing $3 million dollars over the first 9 months of the year, a strong third quarter has brought Stillwater Mining Company back into the black. Officials said higher productivity and more efficiency netted the company $4.4 million dollars this quarter.

Failed contract talks with General Motors had officials initially expecting earning losses of $5 million to $10 million dollars over the course of the year. However, the rising price of platinum group metals has offset those potential losses.

The company released its quarterly production results Thursday night. Stillwater Mining Company recorded quarterly and yearly production gains, and reduced costs as well.

The company is the only U.S. producer of palladium and platinum, and was expected to yield just under half a million combined ounces over the course of the year. So far, the company reports it has already produced close to 80% of that figure and officials now expect a higher total.

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steelman said on Saturday, Nov 7 at 8:48 AM

yes, they refine it in columbus.what we need to do is boycott G.M,for stabbin us in the back after we bailed them out. the gov should have made them finish the contract.

N Kalanaga said on Friday, Nov 6 at 7:05 PM

Manufacturing catalytic converters would be a great industry for Billings. My only question is, does Stillwater refine their own metal or is the ore/concentrate shipped elsewhere? As for the vending machines, that could be difficult. The price is constantly changing, so unless the machine was online, it couldn't keep up. Also, unless the machine was built like a bank vault, the value of the contents would make stealing it too tempting. Selling them through local banks would work.

JULIO said on Friday, Nov 6 at 11:20 AM

we should be manufacturing catalytic converters and fuel cells in Billings; we should be sell platinum and palladium ignots through vending machines at banks.

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