Union Membership Conducts Second Vote and Again Rejects Labor Contract at Stillwater Mine and Columbus Processing Facilities
LITTLETON, Colo., July 28, 2015 (GLOBE NEWSWIRE) -- Stillwater Mining Company (NYSE:SWC) reported today that union employees at the Company's Stillwater Mine and Columbus processing facilities, represented by the USW International Union Local 11-0001, have again failed to ratify the tentative labor agreement reached on May 27, 2015.
Following this latest decision by the union members and in light of the current metal price environment, Company management continues to consider all alternatives to create a situation that will best promote the long-term economic viability of operations at the Stillwater Mine and Columbus processing facilities. The previous labor contract with employees at these sites expired at midnight on June 12, 2015. The represented employees continue to work under the terms of the expired contract.
About Stillwater Mining Company
Stillwater Mining Company is the only U.S. miner 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 automobile catalysts, fuel cells, hydrogen purification, electronics, jewelry, dentistry, medicine and coinage. The Company is engaged in the development, extraction and processing of PGMs from a geological formation in south-central Montana known as the J-M Reef. The J-M Reef is the only known significant source of PGMs in the U.S. and the highest-grade PGM resource known in the world. The Company also recycles PGMs from spent catalytic converters and other industrial sources. The Company 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. Information about the Company can be found at its website: www.stillwatermining.com.
CONTACT: Mike Beckstead
720-502-7671
investor-relations@stillwatermining.com
