Union Membership Ratifies Four-Year Labor Contract at East Boulder Mine
December 15 2015 - 11:00PM
Stillwater Mining Company (NYSE:SWC) reported
today that union employees at the Company’s East Boulder Mine,
represented by the USW International Union Local 11-0001, have
ratified a new four-year labor agreement.
Commenting on the new contract, Mick McMullen,
the Company’s President and Chief Executive Officer stated, “I
would like to thank the negotiating teams from the Company and the
Union and the East Boulder employees for their efforts in reaching
this agreement. The new agreement essentially rolls forward the
previous contract. The contract includes a provision for no
increase in base wages for each of the first two years of the
agreement and other minor modifications. I believe this new
agreement represents a reasonable outcome for all stakeholders in
this challenging metal price environment.”
The effective date of the new agreement is
January 1, 2016.
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
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