Stillwater Mining Co.
Stillwater Mining Co. is engaged in the development, extraction, processing, smelting, refining and marketing of palladium, platinum and associated metals from a geological formation in southern Montana known as the J-M Reef. It owns the Marathon PGM-copper deposit in Ontario, Canada. This project is presently in the permitting stage. In addition, the company owns the Altar porphyry copper-gold deposit located in the San Juan province of Argentina. The company conducts mining operations at its Stillwater and East Boulder mines in south-central Montana. It operates concentrating plants at each mining operation to upgrade the mined production into a concentrate form. The company operates its business through five business segments: Mine Production, PGM Recycling, Canadian Properties, South American Properties and All Other. The Mine Production segment consists of two business components: Stillwater Mine and East Boulder Mine and this segment are engaged in the development, extraction, processing and refining of PGMs. It sells PGMs from mine production under long-term sales agreements, through derivative financial instruments and in open PGM markets. The PGM Recycling segment is engaged in the recycling of spent catalyst material to recover the PGMs contained in the material. The company allocates costs of the smelter and base metal refinery to both the Mine Production segment and to the PGM Recycling segment for internal and segment reporting purposes. The Canadian Properties segment consists of the Marathon PGM assets and the Bermuda exploration mineral property. The Marathon deposit is currently in the permitting stage and will not be in production for several years. The Bermuda exploration mineral property is located adjacent to the Marathon property. The South American Properties segment consists of the Peregrine Metals Ltd. assets. The All Other group segment primarily consists of assets, revenues, and expenses of various corporate and support functions. Stillwater Mining was founded in 1992 and is headquartered in Billings, MT.