Stillwater Mining has released details of its fourth quarter results, revealing record annual revenues of $447.5 million and producing a total of 153,000 ounces of palladium and platinum.

The North American pgm firm said that its output was split between 118,000 ounces of palladium and 35,000 ounces of platinum, representing a four per cent rise in comparison to the figures for 2003.

The statistics mean that the figures for the whole year have seen a total of 569,000 ounces of palladium and platinum produced - including 439,000 ounces of palladium and 130,000 ounces of platinum.

Chairman and chief executive officer Francis R. McAllister said that the 50,000 ounce shortfall below the projected total was a result of a union strike at the mine.

"However, mine productivity improved in the fourth quarter, resulting in production of
153,000 ounces of pgms," he commented.

"In 2004 we had record pgm sales totalling 1.1 million ounces, including mine production, recycling activities and palladium inventory sales," he added.

"Sales of mine production continued under our long-term contracts with Ford, General Motors and Mitsubishi Motors and we continued to benefit from the floor prices established in those contracts."

Mr McAllister included by pointing to a "substantial" increase in pgm recycling activity, more than doubling from 2003 levels.