Stillwater Mining Discloses 2010 Mine Production Results

Stillwater Mining (NYSE:SWC) announced its’s results for 2010 mine production.

The press release is quoted as saying:

Stillwater Mining Company announced today that its mined production of palladium and platinum totaled 485,100 ounces for the full year 2010. This was at the high end of the Company’s most recent guidance (475,000 to 485,000 ounces) and in particular reflected excellent performance for the year at the East Boulder Mine. As announced previously, Stillwater Mine has struggled with lower-than-planned ore grades and some intermittent operational challenges throughout much of 2010, especially in the off-shaft area of the mine, which historically has produced much higher ore grades.

Frank McAllister, Chairman and CEO of Stillwater, said:

While obviously the Company’s mined ounce production declined in 2010 relative to the prior year, I am encouraged that mining productivities, measured in mill feed tons per day, continued strong in 2010. Average realized ore grades will vary depending on the active region of the mine and on the specific mix of stopes that are available to mine at any point in time, but maintaining mining productivity is key to the long-term performance of these properties.

To access the full release, click here.