Vancouver North America’s largest platinum-palladium producer saw third-quarter output increase 26% to 123,000 oz.
Stillwater Mining (SWC-N) has seen a steady rise in production at its Stillwater Mine in Montana over the past year. For the first three quarters of 2001, the mine produced 370,000 oz. of platinum-palladium, compared to 308,000 oz. in the corresponding period of 2000. The major is expected to crank out its goal of 500,000 oz. of combined platinum-palladium in 2001.
Helping to drive the production gains, development work at the company’s East Boulder Mine added 9,000 oz. pf platinum-palladium during the quarter. Commercial production at East Boulder is slated for the second quarter of 2002.
The company faced a rough year as expansions at its Stillwater and East Boulder platinum group metals (PGM) operations coincided with tumbling prices for platinum and palladium. In the past 12 months shares in the company have fallen to around US$17 from US$40.30.
Be the first to comment on "Stillwater production jumps"