SOURCE: Stillwater Mining Company

Stillwater Mining Company

April 17, 2014 16:15 ET

Stillwater Mining Company Reports First Quarter 2014 Mined Production and Recycling Results and Announces First Quarter 2014 Results Conference Call

BILLINGS, MT--(Marketwired - Apr 17, 2014) - STILLWATER MINING COMPANY (NYSE: SWC) (TSX: SWC.U) (the "Company") today reported first quarter 2014 platinum group metals production from its Montana mines and from its recycling activities.

Production from Montana Mines

Production of palladium and platinum from the Company's Montana mine operations totaled 130,700 ounces in the first quarter of 2014, a 2.8% increase over the same period in 2013. The 18.8% increase in East Boulder Mine production in this year's first quarter compared to the first quarter of 2013 was driven by slightly higher realized ore grades and higher tons mined. The 3.0% decline in ounces produced at the Stillwater Mine reflected lower ore tons mined and increased allocation of resources to development activities during the 2014 first quarter compared to the first quarter of 2013. 

(mined ounces produced) 1Q 2014 1Q 2013 Change
Stillwater Mine 89,700 92,600 -3.0%
Palladium 68,900 71,300 -3.4%
Platinum 20,800 21,300 -2.3%
East Boulder Mine 41,000 34,500 18.8%
Palladium 31,900 26,800 19.0%
Platinum 9,100 7,700 18.2%
Total 130,700 127,100 2.8%
Palladium 100,800 98,100 2.8%
Platinum 29,900 29,000 3.1%

Recycling Activities

During the first quarter of 2014, total volumes of palladium, platinum and rhodium processed from recycled material totaled 101,500 ounces, a decrease of 34.2% compared to the same period in 2013. The decrease in recycling volumes during the first quarter of 2014 was primarily due to weather related issues. Recycling material deliveries have increased subsequent to the end of the first quarter as overall weather conditions have improved.

(recycling ounces fed) 1Q 2014 1Q 2013 Change
Total 101,500 154,200 -34.2%
Palladium 57,600 89,200 -35.4%
Platinum 36,300 52,800 -31.3%
Rhodium 7,600 12,200 -37.7%

Note: Historical production and recycling information is available at

First Quarter 2014 Results Webcast and Conference Call

Stillwater Mining Company will conduct a conference call to discuss first quarter 2014 results at 12:00 noon Eastern Daylight Time on Thursday, May 1, 2014.

Dial-In Numbers:
United States: (877) 531-2988
International: (612) 332-0718

The conference call will be simultaneously webcast through the Company's website at in the Investor Relations section.

A telephone replay of the call will be available for one week following the event. The replay dial-in numbers are (800) 475-6701 (U.S.) and (320) 365-3844 (International), access code 324973. In addition, the call transcript will be archived in the Investor Relations section of the Company's website.

About Stillwater Mining Company

Headquartered in Billings, Montana, Stillwater Mining Company is the only U.S. producer of platinum group metals (PGMs) and the largest primary producer of PGMs outside of South Africa and the Russian Federation. PGMs are rare precious metals used in a wide variety of applications, including auto catalysts, fuel cells, hydrogen purification, electronics, jewelry, dentistry, medicine, coinage and other applications. Stillwater Mining Company is engaged in the development, extraction, processing, smelting and refining of PGMs from a geological formation in southern Montana known as the J-M Reef and from the recycling of spent catalytic converters. The J-M Reef is the only known significant source of PGMs in the United States and the highest-grade PGM resource in the world. The Company also owns the Marathon PGM-copper deposit in Ontario, Canada, and the Altar porphyry copper-gold deposit located in the San Juan province of Argentina. The Company's shares are traded on the New York Stock Exchange under the symbol SWC and on the Toronto Stock Exchange under the symbol SWC.U. Information about Stillwater Mining Company can be found at its website: