New deal at Stillwater (July 26, 2004)

Workers at Stillwater Mining’s palladium and platinum mine near Nye, Mont., have voted to accept a new contract after rejecting an earlier offer.

The company refused to release details of the new deal, stating only that members of the Paper, Allied Industrial, Chemical and Energy Workers International Local 8-0001, under which the company’s employees are organized, voted to approve a 3-year contract. It covers employees at the Stillwater mine and mill in Nye and the processing and warehouse facilities in Columbus, Mont.

In early July, about 900 unionized employees voted by a 70-30% margin to reject a deal and go on strike, affecting roughly 75% of all U.S. production of platinum group metals.

The union wants a defined benefit pension plan that would guarantee an annual payment to retirees.

Stillwater shut down operations at its namesake mine because of the strike. The mine last year produced 428,000 oz. palladium and platinum, or 73% of the company’s total production.

Workers at Stillwater’s East Boulder mine, near Big Timber, Mont., have a separate contract and are not affected by the strike.