Oct 20 2009
Stillwater Mining Company reports third quarter production and profits are up. In spite of General Motors and a bad for Montana bankruptcy court ruling the mine is now flourishing. It does help to be the only source of platinum and palladium in the western hemisphere.
Here is a news article and the companies press release:
Profits Surge at Stillwater Mines
Short but Complete Article
Steve Fetveit (10/14/09) KECI.com
Montana’s Stillwater Mines are reporting a full recovery from the economic doldrums of a year ago that threatened to put more than a thousand miners in the unemployment line.
Last July, bankrupt U.S. automaker General Motors was scrambling for survival. A bankruptcy court allowed the automaker to scrap a production contract with Montana’s Stillwater Mining Company in favor of cheaper foreign suppliers in Russia and South Africa. The move threw the future of the mines into question.
Third Quarter Production and Pricing Statistics
COLUMBUS, MT, Oct 14, 2009 (MARKETWIRE via COMTEX) — STILLWATER MINING COMPANY (NYSE: SWC) released today preliminary third quarter and year-to-date production results, total cash costs per ounce and realized metal prices for its two operating mines and volumes processed in its platinum-group metal (PGM) recycling activities.
While the Company believes that the statistics presented below are accurate, the quarterly review by the Company’s independent auditor is not yet complete. Consequently, the information shown may be subject to revision in the Company’s forthcoming Quarterly Report on Form 10-Q for the third quarter 2009.