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Stillwater Mining Upgrades 2011 Production Forecast To 515,000 Oz

LONDON -(Dow Jones)- Platinum and palladium producer Stillwater Mining Co. (SWC) said Monday it has increased its 2011 annual forecast for mined palladium and platinum production to 515,000 ounces, from its original guidance of 500,000 ounces, on higher-than-anticipated output in the first two quarters. In the announcement of its preliminary second quarter results, Stillwater said production exceeded expectations in the first half of the year due to higher ore grades in the lower shaft area and east side of its Stillwater Mine and uninterrupted productivity during recent labor contract negotiations. The company Monday announced the ratification of an agreement with the United Steel Workers International Union on the terms of a new four-year labor deal for workers at the Stillwater Mine and Columbus processing facilities. -By Francesca Freeman, Dow Jones Newswires; +44 (0)20 7842 9412;

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