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Stillwater Cuts 2010 Full Year Production Guidance By 4.9%

LONDON -(Dow Jones)- U.S. platinum producer Stillwater Mining Co. (SWC) Wednesday said it produced 18.2% less platinum and palladium in the second quarter than the same period a year earlier, and lowered its full-year production guidance by 4.9%. Stillwater said it produced 112,600 troy ounces of palladium and platinum, down from 137,700 ounces in the second quarter 2009. The Stillwater mine produced 79,200 ounces and the East Boulder Mine 33,400 ounces. Lower grades of ore and safety compliance caused the drop in output, the miner said. Stillwater lowered its forecasted output for the year to 490,000 ounces at a cash cost of $385/oz, from 515,000 ounces at $360/oz. Chairman and Chief Executive Francis McAllister said in a webcast that the company expects production in 2011 will be in line with the original guidance for 2010 of 515,000 ounces. McAllister declined to comment on news reports that Russian platinum miner Norilsk Nickel (GMKN.RS) is considering selling its 51.3% stake in the company. "We really don't have sufficient information at this point in time to say what may happen there," he said. -By Matthew Walls, Dow Jones Newswires; +44 (0)20 7842 9412; [email protected]

Stock News for Stillwater Mining (SWC)
03/23/201706:04:41Proxy Statement - Merger or Acquistion (definitive) (defm14a)
03/15/201714:21:50Initial Statement of Beneficial Ownership (3)
03/13/201717:26:53Current Report Filing (8-k)
03/08/201716:42:08Additional Proxy Soliciting Materials - Non-management (definitive...
03/07/201716:08:09Proxy Soliciting Materials (revised) (prer14a)
03/06/201717:26:42Current Report Filing (8-k)
03/03/201716:04:34Additional Proxy Soliciting Materials - Non-management (definitive...
03/02/201717:54:36Statement of Changes in Beneficial Ownership (4)
03/02/201717:53:15Statement of Changes in Beneficial Ownership (4)
03/02/201717:13:54Statement of Changes in Beneficial Ownership (4)
03/02/201716:51:49Statement of Changes in Beneficial Ownership (4)
03/02/201716:49:14Statement of Changes in Beneficial Ownership (4)
02/23/201715:48:32Additional Proxy Soliciting Materials - Non-management (definitive...
02/21/201717:27:18Additional Proxy Soliciting Materials - Non-management (definitive...
02/16/201716:07:23Annual Report (10-k)
02/16/201708:06:24Current Report Filing (8-k)
02/16/201708:00:00Stillwater Mining Company Reports Fourth Quarter and Full-Year...
02/15/201715:02:07Additional Proxy Soliciting Materials - Non-management (definitive...
02/14/201714:37:11Amended Statement of Ownership (sc 13g/a)
02/10/201706:04:23Amended Statement of Ownership (sc 13g/a)

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