UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
FORM 8-K CURRENT REPORT
Pursuant to Section 13 or 15(d) of the |
Date of Report: January 21, 2014
(Date of earliest event reported)
Stillwater Mining Company
(Exact name of registrant as specified in its charter)
DE
(State or other jurisdiction
of incorporation)
001-13053
(Commission File Number)
81-0480654
(IRS Employer
Identification Number)
1321 Discovery Drive, Billings, Montana
(Address of principal executive offices)
59102
(Zip Code)
(406) 373-8700
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if changed since last report)
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Item 7.01. Regulation FD Disclosure On January 21, 2014, Stillwater Mining Company issued a press release to report its fourth quarter 2013 mined production and recycling results. Pursuant to Regulation FD, a copy of the press release is filed herewith as Exhibit 99.1 and is incorporated herein by reference. Note: Information in this report (including the exhibits) furnished pursuant to Item 7.01 shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section. This report will not be deemed an admission as to the materiality of any information in the report that is required to be disclosed solely by Regulation FD. Furthermore, the information provided in Exhibit 99.1 shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933, unless such incorporation by reference is specifically referenced therein.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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.
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Dated: January 21, 2014 |
STILLWATER MINING COMPANY
By: /s/ Brent R. Wadman |
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| Exhibit No. | Description |
| 99.1 | Press Release of Stillwater Mining Company dated January 21, 2014 |
BILLINGS, MT -- (Marketwired - January 21, 2014) - STILLWATER MINING COMPANY (NYSE: SWC) (TSX: SWC.U) (the "Company") today announced production from its Montana mines and recycling results for the fourth quarter of 2013. Total recycled material processed during 2013 of 616,700 ounces resulted in a record recycling year for the Company.
Production from Montana Mines
Production of palladium and platinum from the Company's Montana mine operations totaled 141,100 ounces in the fourth quarter of 2013, a 6.5% increase over the same period in 2012. Total Montana mine production for 2013 was 523,900 ounces, a 2.0% increase from the 513,700 ounces reported in fiscal 2012. Total mined production for 2013 exceeded the Company's most recent guidance range of 505,000 to 515,000 ounces.
4Q 2013 4Q 2012 Change FY 2013 FY 2012 Change
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Stillwater Mine 98,700 97,500 1.2% 366,100 377,400 -3.0%
Palladium 75,900 75,200 0.9% 281,900 290,100 -2.8%
Platinum 22,800 22,300 2.2% 84,200 87,300 -3.6%
East Boulder Mine 42,400 35,000 21.1% 157,800 136,300 15.8%
Palladium 32,800 27,100 21.0% 122,300 105,900 15.5%
Platinum 9,600 7,900 21.5% 35,500 30,400 16.8%
Total 141,100 132,500 6.5% 523,900 513,700 2.0%
Palladium 108,700 102,300 6.3% 404,200 396,000 2.1%
Platinum 32,400 30,200 7.3% 119,700 117,700 1.7%
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Recycling Activities
During the fourth quarter of 2013, total volumes of palladium, platinum and rhodium (PGMs) processed from recycled material increased by 1.2% to 120,000 ounces compared to the same period of 2012. The Company processed a record 616,700 ounces of PGMs from recycled material during 2013, a 38.5% increase from approximately 445,200 ounces processed during the prior year.
4Q 2013 4Q 2012 Change FY 2013 FY 2012 Change
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Total 120,000 118,600 1.2% 616,700 445,200 38.5%
Palladium 66,600 64,500 3.3% 345,800 258,500 33.8%
Platinum 44,400 44,300 0.2% 223,800 154,900 44.5%
Rhodium 9,000 9,800 -8.2% 47,100 31,800 48.1%
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Note: Historical production information is available at www.stillwatermining.com.
About Stillwater Mining Company
Headquartered in Billings, Montana, Stillwater Mining Company is the only U.S. producer 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 auto catalysts, fuel cells, hydrogen purification, electronics, jewelry, dentistry, medicine, coinage and other uses. Stillwater Mining Company is engaged in the development, extraction, processing, smelting, refining and marketing of PGMs from a geological formation in southern Montana known as the J-M Reef. This is the only known significant source of PGMs in the United States and one of the highest grade PGM resources in the world. The Company also 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 and on the Toronto Stock Exchange under the symbol SWC.U. Information about Stillwater Mining Company can be found at its website: www.stillwatermining.com.
CONTACT: Mike Beckstead (406) 373-8971