Stillwater Mining Company Recovers

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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