8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K

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

       Date of report (Date of earliest event reported): January 27, 2006

                            STILLWATER MINING COMPANY
             (Exact name of registrant as specified in its charter)

           Delaware                     1-13053             81-0480654
- ----------------------------         ------------       -------------------
(State or Other Jurisdiction         (Commission          (IRS Employer
      of Incorporation)              File Number)       Identification No.)

    1321 Discovery Drive, Billings, Montana                    59102
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    (Address of Principal Executive Offices)                 (Zip Code)

        Registrant's telephone number, including area code (406) 373-8700

                                 Not applicable
          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]  Written communications pursuant to Rule 425 under the Securities
     Act (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange
     Act (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))

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ITEM 8.01.  OTHER EVENTS.

On January 27, 2006 Stillwater Mining Company issued a press release announcing
that it had identified miscellaneous metal sales receivables that may be
uncollectible. The Company anticipates this will likely result in a charge of up
to $3 million to earnings in 2005. The Press Release is attached hereto as
Exhibit 99.1 and is incorporated herein by reference.

ITEM 9.01   FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

EXHIBIT 99.1  Press Release dated January 27, 2006



                                   SIGNATURES

     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


Dated:   January 27, 2006                             By:    /s/ John Stark
                                                             -------------------
                                                      Name:  John Stark
                                                      Title: Vice President



                                  EXHIBIT INDEX

NUMBER    TITLE
- ------    ---------------------------------------------------------------------
99.1      Press release issued on January 9, 2006 by Stillwater Mining Company.

EX-99.1

                                                                    EXHIBIT 99.1

FOR IMMEDIATE RELEASE:     January 27, 2006

CONTACT:                   John W. Pearson
                           406-373-8742

             STILLWATER MINING REPORTS POTENTIAL CHARGE TO EARNINGS

BILLINGS, MONTANA, - STILLWATER MINING COMPANY (NYSE:SWC) announced today that
it has identified miscellaneous metal sales receivables that may be
uncollectible. The Company's major commercial agreements are not involved.

The Company anticipates this will likely result in a charge of up to $3 million
to earnings in 2005. The Company's internal auditors have reviewed control
deficiencies associated with this matter and it is expected the Company will be
reporting one or more material weaknesses in internal controls over financial
reporting in connection with its year-end review in accordance with Section 404
of the Sarbanes-Oxley Act of 2002.

The Company is in the process of modifying its contract administration processes
and strengthening accounting controls over miscellaneous metal purchases and
sales to remedy these deficiencies. Testing of the effectiveness of these new
controls is not expected to be completed until the end of the first quarter of
2006. Additional discussion of the company's remediation efforts will be
included in the forthcoming Annual Report on Form 10-K for 2005.

Stillwater Mining Company is the only U.S. producer of palladium and platinum
and is the largest primary producer of platinum group metals outside of South
Africa and Russia. The Company's shares are traded on the New York Stock
Exchange under the symbol SWC. Information on Stillwater Mining can be found at
its Web site: www.stillwatermining.com.

Some statements contained in this news release are forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and, therefore,
involve uncertainties or risks that could cause actual results to differ
materially. These statements may contain words such as "believes,"
"anticipates," "plans," "expects," "intends," "estimates" or similar
expressions. These statements are not guarantees of the Company's future
performance and are subject to risks, uncertainties and other important factors
that could cause our actual performance or achievements to differ materially
from those expressed or implied by these forward-looking statements. Such
statements include, but are not limited to, comments regarding expansion plans,
costs, grade, production and recovery rates, permitting, financing needs, the
terms of future credit facilities and capital expenditures, increases in
processing capacity, cost reduction measures, safety, timing for engineering
studies, and environmental permitting and compliance, litigation and the
palladium and platinum market. Additional information regarding factors which
could cause results to differ materially from management's expectations is found
in the section entitled "Risk Factors" above in the Company's 2004 Annual Report
on Form 10-K. The Company intends that the forward-looking statements contained
herein be subject to the above-mentioned statutory safe harbors. Investors are
cautioned not to rely on forward-looking statements. The Company disclaims any
obligation to update forward-looking statements.

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