{"id":8356,"date":"2024-09-16T20:03:34","date_gmt":"2024-09-16T20:03:34","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=8356"},"modified":"2024-10-21T17:21:03","modified_gmt":"2024-10-21T17:21:03","slug":"sibanye-stillwater-pgm-mines-face-layoffs","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2024\/09\/16\/sibanye-stillwater-pgm-mines-face-layoffs\/","title":{"rendered":"Sibanye-Stillwater PGM mines face layoffs"},"content":{"rendered":"

\"\"<\/p>\n\n\n

Sibanye-Stillwater<\/a> \u2013 the owner of the only platinum and palladium mines in the U.S. \u2013 has plans to lay off 700 employees at its operations in Montana due to declining prices for palladium, reported the Associated Press.<\/em><\/p>\n\n\n\n

The news agency said Sibanye-Stillwater Executive Vice President Kevin Robertson explained in a letter to employees that the price of the precious metal was about $2,300 an ounce two years ago and has dipped below $1,000 an ounce over the past three months.<\/p>\n\n\n\n

\n

\u201cWe believe Russian dumping is a cause of this sharp price dislocation,\u201d he wrote. \u201cRussia produces over 40% of the global palladium supply, and rising imports of palladium have inundated the U.S. market over the last several years.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The miner gave employees a 60-day notice of the layoffs, which is required by federal law.<\/p>\n\n\n\n

Sibanye-Stillwater said it is putting the Stillwater West operations, near Nye, Mont., on pause. The miner will also reduce operations at East Boulder, located south of Big Timber, and at a smelting facility and metal refinery in Columbus.<\/p>\n\n\n\n

In response, Montana U.S. Sens. Steve Daines (R) and Jon Teste (D) said they will introduce legislation to prohibit the U.S. from importing critical minerals from Russia, including platinum and palladium. Daines\u2019 bill would end the import ban one year after Russia ends its war with Ukraine.<\/p>\n\n\n\n

Source: <\/em>Associated Press<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Sibanye-Stillwater \u2013 the owner of the only platinum and palladium mines in the U.S. \u2013 has plans to lay off 700 employees at its operations in Montana due to declining prices for palladium, reported the Associated Press. The news agency said Sibanye-Stillwater Executive Vice President Kevin Robertson explained in a letter to employees that the price of the precious metal…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[495,12],"tags":[1132,3250,1588,1143],"coauthors":[1644],"class_list":["post-8356","post","type-post","status-publish","format-standard","hentry","category-latest-news","category-the-headlines","tag-critical-minerals","tag-palladium-supply","tag-precious-metals","tag-sibanye-stillwater"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t