Lower Palladium, Platinum Prices Reduce Stillwater Earnings

Kitco reported Stillwater Mining (NYSE:SWU,TSX:SWC.U) reported a loss in earnings on lower palladium and platinum prices.

As quoted in the market news:

Stillwater said third-quarter mine production was 127,000 ounces, and it reiterated its full-year guidance of 500,000 ounces of production. Stillwater is the only U.S. producer of platinum and palladium.

In addition to lower PGM prices, consolidated total cash costs rose versus a year ago. Cash costs for the third quarter of 2012 rose to $496 an ounce versus $439 an ounce last year at the same time. Even with the rise in cash costs, Stillwater is keeping its cost guidance at $500 per mined ounce for 2012.