Montana miner backs off expansion plans, lays off 100 due to lower palladium prices
The Stillwater Mining Company, the only platinum and palladium mine in the United States, stands near Nye, Mont., on May 2, 2013. The owner of two precious metals mines in south-central Montana is stopping work on an expansion project and laying off about 100 workers because the price of palladium fell sharply in the past year, mine representatives said Thursday, Nov. 30, 2023. Sibanye-Stillwater announced the layoffs Wednesday at the mine near Nye, Mont., and other Sibanye-owned facilities in Montana, including a recycling operation. (AP Photo/Matthew Brown, File)
The owner of two precious metals mines in south-central Montana is stopping work on an expansion project and laying off about 100 workers because the price of palladium fell sharply in the past year, mine representatives said Thursday.
Sibanye-Stillwater announced the layoffs Wednesday at the only platinum and palladium mines in the United States, near Nye, Montana, and other Sibanye-owned facilities in Montana, including a recycling operation. Another 20 jobs have gone unfilled since October, officials said.
Another 187 contract workers — about 67% of the mining contract workers at the mine — will also be affected. Some contract work has been phased out over the past couple of months, said Heather McDowell, a vice president at Sibanye-Stillwater.
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