- Associated Press - Thursday, August 20, 2015

BILLINGS, Mont. (AP) - Production at the Stillwater Mine near Nye was put to a halt after the company announced it would be laying off more than 100 workers.

The Billings Gazette reports (https://bit.ly/1LnccVt ) CEO Mick McMullen said Wednesday that management had discussed its plan with employees to lay off 119 workers from the mine and Columbus smelter. He said production at the mine would resume Thursday.

Stillwater is the nation’s only platinum and palladium mine and its primary competitors are based in South Africa and the Russian federation. The mine has struggled with a 30 percent drop in metal prices, a $27.5 million loss in the second quarter and $400 million in debt.

Despite recent challenges, McMullen says new business opportunities and a good team will keep Stillwater ready to compete.

___

Information from: The Billings Gazette, https://www.billingsgazette.com


Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide