Record Earnings for Stillwater Mine

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By Sarah Gravlee

Story Published: Feb 21, 2012 at 6:53 PM MDT

Story Updated: Feb 22, 2012 at 2:11 PM MDT

BILLINGS - Stillwater Mining Company reports record earnings for 2011.

The Billings-based company reports a net income of more than $144 million. That's up from $50-million in 2010 and a huge turn around from 2008 when the company recorded a net loss of nearly $113-million and laid off hundreds of employees.

Stillwater Mining Company harvests platinum, palladium and rhodium from its mines near Nye and Big Timber. The chairman and CEO said the company benefited from strong platinum group metal prices this year. He said these metals are in short supply and are experiencing growing demand worldwide for their use in catalytic converters.

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