Stillwater Mining Co.
Stillwater Mining Company’s line of business is mainly on the development, processing and marketing of palladium, platinum and related metals in the J-M Reef in Montana, the solitary producer of Palladium and Platinum. Platinum, for information purposes, is a rare precious metal, corrosion-resistant and is being used for different types of applications such as automobiles (i.e. sparkplugs tips), jewelry (for its tarnish-free component), electronics, dental equipments, and others. Its price is more than twice the price of gold. Stillwater has a commitment to the well-being of its employees and the environment. Superiority when it comes to producing metals and at the same time at the lowest rate as possible. They give importance to the following in to keep up its steady growth – people, performance, products, processes, practices and profit. They push for teamwork between distinct individuals contributing for new ideas and innovation on how to achieve better-quality products. They stand for simplified but value for money processes and practices.
Stillwater has a fluctuating growth in terms of stock market. But has increased and pulled through after a sharp fall since late May. The decline was caused by the decrease in price of palladium. 2007 was a difficult year for the company, reporting a loss of $14.3 million versus 2006. A lot of changes happened along this year, like the shortage of skilled miners as a result of the reduction of the use of outside contract mining companies. But nevertheless, with this situation at hand, the company resolved to get miners from within Montana. They educated and trained their locals according to their standards which in turn registered a reduction of accident rate of 73%. Palladium demand is increasing with the acceptance of this metal group for jewelry use. And if this continues, with current market trends, it is estimated that the company will register growth by the end of 2008 and could be a great choice for your best Roth IRA.
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