Montana miner backs off expansion plans, lays off 100 due to lower palladium prices

By AMY BETH HANSON
Associated Press

The owner of two a south-central Montana precious metals mines is stopping work on an expansion project and laying off about 100 workers because the price of palladium fell sharply in the past year. Sibanye-Stillwater announced the layoffs Wednesday at its platinum and palladium mine. The company said another 187 contract workers could be affected, although some of those jobs have been eliminated in recent months. An official at Sibanye-Stillwater says the mine at Nye can still make money mining on the west side of the property, but the expansion on the east side is not cost effective right now.