Union Vote on Tentative Labor Agreement at Stillwater Mine and Columbus Processing Facility Rescheduled
BILLINGS, Mont., June 4, 2015 (GLOBE NEWSWIRE) -- Stillwater Mining Company (NYSE:SWC) today provided an update to the announcement dated May 28, 2015 regarding the Company's tentative agreement with the United Steel Workers International Union on the terms of a new labor agreement at the Stillwater Mine and Columbus processing facility. The vote by members of United Steel Workers Local 11-0001 on the proposed agreement originally scheduled for June 4 and June 5, 2015 has been deferred to June 9 and June 10, 2015.
The current contract has been extended to June 12, 2015.
The Negotiating Committee for the Union and the representative for USW International are unanimously recommending ratification of the tentative agreement to members of the United Steel Workers Local 11-0001. Approval by the union membership is required to ratify the tentative agreement.
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
(406) 373-8971
investor-relations@stillwatermining.com