Stillwater mine to cut production, lay off 700 workers as low metal prices drive losses

Sibanye Stillwater, the South African company that operates the nation's only major palladium mine in south-central Montana, said Thursday that it plans to lay off about 40% of its Montana workforce as it scales back its operation in an effort to offset losses caused by low metal prices.

In a letter to workers, U.S. Executive Vice President Kevin Robertson said the company will halt mining at the west section of its Stillwater mine southwest of Columbus until prices rise. It also plans to restructure operations at its East Boulder mine south of Big Timber and its Columbus-area processing and r...