8-K

 
                                 UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC  20549



                                   FORM 8-K



                                CURRENT REPORT
                    PURSUANT TO SECTION 13 OR 15(D) OF THE
                        SECURITIES EXCHANGE ACT OF 1934


                       DATE OF REPORT: FEBRUARY 21, 1997
             (DATE OF EARLIEST EVENT REPORTED: FEBRUARY 21, 1997)


                           STILLWATER MINING COMPANY
                           -------------------------
            (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


             DELAWARE                  0-25090                     81-0480654
       ---------------------         ----------               ------------------
    (STATE OF INCORPORATION)  (COMMISSION FILE NUMBER)        (I.R.S. EMPLOYER
                                                             IDENTIFICATION NO.)

 
                  536  E. PIKE AVENUE
                  POST OFFICE BOX 1330
                  COLUMBUS, MONTANA                               59019
        ----------------------------------------               ----------
        (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)               (ZIP CODE)

 
                                (303) 978-2525
             ----------------------------------------------------
             (REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)



 

 
ITEM 5.  OTHER EVENTS.

          Reference is hereby made to the Press Release dated February 21, 1997,
          a copy of which is attached hereto as Exhibit A and incorporated
          herein by reference in its entirety.

 
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                  STILLWATER MINING COMPANY



Date: February 21, 1997           By:    /s/ John E. Andrews
                                      ---------------------------
                                      John E. Andrews
                                      President

EX-99

 
                                                                       EXHIBIT A

               [LOGO OF STILLWATER MINING COMPANY APPEARS HERE]


NEWS RELEASE
________________________________________________________________________
FOR IMMEDIATE RELEASE:  February 21, 1997
CONTACT:                Gina Wilson
                        (303) 978-3101

              STILLWATER MINING ANNOUNCES APPOINTMENT OF CHAIRMAN

DENVER, COLORADO -- STILLWATER MINING COMPANY (NASDAQ:PGMS)  announced today
that Charles R. Engles, 49,  has resigned as Chairman and Chief Executive
Officer of the Company.  Ray Ballmer, 70, was appointed Chairman on an interim
basis until Mr. Engles' replacement is found.  Mr. Ballmer is a Director of the
Company.  Mr. Engles will continue to act as an advisor to Mr. Ballmer.

On behalf of the Board of Directors, Mr. Ballmer said, "We are grateful for
Charles' significant contribution to the development of the Company, including
the progress made in the expansion plan over the last two years."

From 1982 until 1991, Mr. Ballmer served first as President and Chief Operating
Officer and then as Chief Executive Officer of Rio Algom Limited.  From 1975
until 1983, he served first as Executive Vice President and then as President of
Amoco Minerals.  Until 1975, he served as Managing Director of Bougainville
Copper Limited, and before that, he held a number of senior operating positions
with Kennecott Corporation.

Stillwater Mining Company is the only U.S. producer of platinum and palladium
and the only significant primary source of platinum group metals outside of
South Africa.  The Company is traded on the NASDAQ stock market under the symbol
PGMS.

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