Business
The company has long-term sales agreements with several auto companies. One of these agreements expired in the fourth quarter of 2006 and the remaining ones will expire by the end of 2010. The company also had sales agreements under which it sold palladium from the stock collected in the 2003 Norilsk Nickel transaction. This sales program ended in 2006 when the company sold the remainder of its palladium stores by the first quarter of 2006. Norilsk Nickel had bought a 51% stake in Stillwater in 2003, but in November 2010 Norilsk Nickel announced plans to sell this stake.
In 2006, a group of shareholders won a $2.6 million settlement against the company for "misleading statements about the company's financial performance" and its ore reserves.
Read more about this topic: Stillwater Mining Company
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