Whats Platinum worth? $400M according to SWC
Stillwater plans to develop a $400 million pit mine near Marathon, Ontario over the next three years, chief executive Frank McAllister said.
The mine would allow the Columbus-based company to increase its platinum and palladium production by 40 percent. That's equal to about 1,250 pounds annually of the metals used in jewelry, in industrial processes and to make catalytic converters for vehicles -- a market that's been booming in developing countries such as China and India.
Stillwater, with its two mines in southern Montana's Beartooth Mountains, is the only U.S. producer of platinum group metals.