NYE, Mont. (AP) — The owner of the only platinum and palladium mines in the U.S. announced Thursday it plans to lay off hundreds of employees in Montana due ...
NYE, Mont. — The owner of the only platinum and palladium mines in the U.S. announced Thursday it plans to lay off hundreds of employees in Montana due to declining prices for palladium, which is used in catalytic converters.
“We believe Russian dumping is a cause of this sharp price dislocation,” he wrote. “Russia produces over 40% of the global palladium supply, and rising imports of palladium have inundated the U.S. market over the last several years.”Montana U.S. Sens. Steve Daines, a Republican, and Jon Tester, a Democrat, said Thursday they will introduce legislation to prohibit the U.S. from importing critical minerals from Russia, including platinum and palladium.
The company is putting the Stillwater West operations on pause. It is also reducing operations at East Boulder and at a smelting facility and metal refinery in Columbus. Leadership will work to improve efficiencies that could allow the Stillwater West mine to reopen, Robertson said., laid off 100 workers, left another 30 jobs unfilled and reduced the amount of work available for contractors due to declining palladium prices.BOULDER, Colo.
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Palladium Prices Steve Daines Montana
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