Sibanye-Stillwater announced the layoffs Wednesday at the only platinum and palladium mines in the United States, near Nye, Montana, and other Sibanye-owned facilities in Montana, including a recycling operation. Another 187 contract workers — about 67% of the mining contract workers at the mine — will also be affected. Some contract work has been phased out over the past couple of months, said Heather McDowell, a vice president at Sibanye-Stillwater. Palladium prices have since fallen from a peak of about $3,000 an ounce in March 2022 to about $1,000 per ounce now. South Africa-based Sibanye bought the Stillwater mines in 2017 for $2.2 billion.

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Persons: Heather McDowell, McDowell, Sibanye, Jason Small, Noah Dinger, Matthew Brown Organizations: Stillwater, of Labor, Forest Service, Mine, Montana AFL, Department of Labor, Industry, Associated Press Locations: Montana, Sibanye, United States, Nye , Montana, Stillwater, Nye, South Africa, Boulder, Falls , Idaho, Billings , Montana