Montana mine to lay off hundreds of employees
The Sibanye-Stillwater mining company announced Thursday it plans to lay off around 700 employees in Montana as part of a restructuring due in part to a dive in palladium prices and the loss of more than $350 million in Montana since the start of 2023.
The layoff announcement comes less than a year after the company announced it was laying off around 100 employees in Montana. The company owns the Stillwater and East Boulder operations, which are southwest of Columbus, as well as the Columbus Metallurgical Complex.
The company is the largest employer in Stillwater County and employs people from across south-central and southeastern Montana, said Sen. Forrest Mandeville, R-Columbus. The layoff announcement led to both of Montana’s U.S. senators introducing a bill within hours seeking to ban the import of Russian palladium that the company says has caused massive losses.
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