The Stillwater mining company in Montana has reported profits this year - hailed as a vast improvement on last years performance.
Despite the threat of September's wildfires the platinum and palladium mining company reported a net income of $5.1 million, or $0.06 per share, as compared to last year's loss of $10.9 million.

The company has also boosted its recycling rate and by the end of 2006 expects total recycling volumes to exceed 235,000 ounces compared to an estimated 203,000 ounces last year.

Francis R McAllister, Stillwater chairman and CEO, said that this extra source of material had helped increase output.

"In recent years, as reported, Stillwater also has been recycling increasing volumes of spent PGMs from automotive catalytic converters and petroleum refiners," he said.

"The volume of recycled material processed through the Company's facility has grown over the past year."

Several developments in the Stillwater mine are currently completed or nearing completion including an updated rail haulage system in the lower levels of the mine, a new sand plant and distribution system and two new ventilation raises at the East Boulder Mine.

The Stillwater Mining Company mines platinum group metals from two underground mines in the mountains of south-central Montana.

Discovered in the 70s by the Johns Manville Corporation underground mining was later commenced at the site in 1986.
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