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Sibanye Stillwater plans to lay off 700 Montana mine workers due to palladium market decline and $350M losses.
Sibanye Stillwater plans to lay off around 700 employees from its Montana mines due to a decline in the palladium market, which has led to over $350 million in losses since early 2023.
The company will place its high-cost Stillwater West operations on care and maintenance while focusing on the Stillwater East and East Boulder mines.
Senator Jon Tester has criticized the Biden administration's policies and proposed a bill to ban Russian palladium imports, linking them to the market's instability.
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Sibanye Stillwater planea despedir a 700 mineros de Montana debido a la caída del mercado de paladio y pérdidas de 350 millones de dólares.