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): December 5, 2006

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

            Delaware                    1-13053                81-0480654
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  (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
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          (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 7.01  REGULATION FD DISCLOSURE.

On December 5, 2006, Stillwater Mining Company issued a press release announcing
its investment in Pacific North West Capital Corp. The press release is attached
hereto as Exhibit 99.1 and is incorporated herein by reference.

The information, including the exhibit attached hereto, in this Current Report
is being furnished and shall not be deemed "filed" for the purposes of Section
18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to
the liabilities of that Section. The information in this Current Report shall
not be incorporated by reference into any registration statement or other
document pursuant to the Securities Act of 1933, as amended, except as otherwise
expressly stated in such filing.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

(d)     Exhibits.

99.1    Press release issued on December 5, 2006 by Stillwater Mining Company.



                                   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: December 5, 2006                                By:    /s/ John Stark
                                                              ------------------
                                                       Name:  John Stark
                                                       Title: Vice President



                                  EXHIBIT INDEX

NUMBER                                    TITLE
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99.1      Press release issued on December 5, 2006 by Stillwater Mining Company.

EX-99.1

                                                                    Exhibit 99.1

        STILLWATER MINING COMPANY ANNOUNCES US $1.8 MILLION INVESTMENT IN
                        PACIFIC NORTH WEST CAPITAL CORP.

    BILLINGS, Mont., Dec. 5 /PRNewswire-FirstCall/ -- STILLWATER MINING
COMPANY (NYSE: SWC) announced today that on December 5, 2006, it purchased
4,444,444 common shares of Pacific for US $0.40 per share, or a total of US
$1.8 million.

    Pacific North West Capital Corporation, (TSX: PFN; OTC Bulletin Board:
PAWEF; Frankfurt: P7J), headquartered in Vancouver BC, is an exploration and
development company focused on platinum group metal (PGM) and base metal
projects in North America.

    Commenting on the purchase Francis R. McAllister, Chairman and Chief
Executive Officer of Stillwater said, "Our investment in Pacific North West will
give Stillwater an ownership interest in one of North America's foremost
platinum group metal exploration companies. Pacific has an experienced
management, exploration and technical team well-positioned in North America. The
investment will provide Stillwater with early stage exploration exposure and
venture opportunity, as well as the opportunity to participate in exploration
successes in precious and base metal properties presently controlled or acquired
in the future by Pacific."

    Mr. McAllister went on to say, "Stillwater to date has primarily focused on
the expansion and development of its existing PGM mining properties, and the
growth of its PGM recycling business. While these internal efforts will
continue, we have concluded to pursue external mine growth opportunities,
including both generative exploration projects such as those Pacific conducts,
as well as late stage development or operating properties."

    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 Company can be
found at its website: 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, labor matters
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" in the Company's 2005 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.

SOURCE  Stillwater Mining Company
    -0-                             12/05/2006
    /CONTACT:  Dawn E. McCurtain of Stillwater Mining Company,
+1-406-373-8787/
    /Web site:  http://www.stillwatermining.com /
    (SWC PAWEF PFN.)