SOURCE: Stillwater Mining Company

Stillwater Mining Company

October 24, 2013 16:15 ET

Stillwater Mining Company Reports Third-Quarter Production Results

BILLINGS, MT--(Marketwired - Oct 24, 2013) - STILLWATER MINING COMPANY (NYSE: SWC) (TSX: SWC.U) (the "Company") announced today that mined production of palladium and platinum from its Montana operations for the third quarter of 2013 totaled 124,200 ounces, a 2.2% reduction compared with total mine production in the third quarter of 2012 of 127,000 ounces.

During the third quarter of 2013, the Company increased total volumes of palladium, platinum and rhodium (PGMs) processed from recycled material by 74.1% to 167,500 ounces compared to the same period of 2012.

Production from Montana Mines
2013 Mine Production by Quarter 

         
(Mined Ounces) First Quarter Second Quarter Third Quarter Year-To-Date
         
Stillwater Mine 92,600 91,000 83,800 267,400
Palladium 71,300 70,200 64,500 206,000
Platinum 21,300 20,800 19,300 61,400
         
East Boulder Mine 34,500 40,500 40,400 115,400
Palladium 26,800 31,500 31,200 89,500
Platinum 7,700 9,000 9,200 25,900
         
Company Total 127,100 131,500 124,200 382,800
Palladium 98,100 101,700 95,700 295,500
Platinum 29,000 29,800 28,500 87,300

For the first nine months of 2013, total mined production was 382,800 ounces, slightly more than the 381,200 ounces reported in the first nine months of 2012.

Production from Recycling Activities

During the third quarter of 2013, the Company processed 167,500 ounces of PGMs from recycled material. This compares to 96,200 ounces processed during the same period of 2012. During the first nine months of 2013, the Company processed a record 496,700 ounces of PGMs from recycled material, a 52.1% increase from approximately 326,600 ounces processed during the first nine months of 2012. Recycled material reported as processed for the third quarter of 2013 includes an allocation of approximately 4,200 PGM ounces recovered from reprocessed furnace brick.

2013 Recycling Production by Quarter 

         
(Recycled Ounces Processed) First Quarter Second Quarter Third Quarter Year-To-Date
         
Company Total 154,200 175,000 167,500 496,700

About Stillwater Mining Company

Stillwater Mining Company is the only U.S. producer of palladium and platinum and is the largest primary producer of platinum group metals outside of South Africa and the Russian Federation. 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 on Stillwater Mining can be found at its website: www.stillwatermining.com.