Stillwater Mining has entered into an agreement with General Motors (GM) which will see it supply palladium to the automaker until 2013.

The deal, which was struck on December 17th, means US pgm miner Stillwater will sell "contractually determined fixed quantities of palladium in each of the years 2011, 2012 and 2013".

Prices for the metals will be calculated according to the London PM Fix Monthly Average for palladium at the time of each sale.

The company previously had a palladium and rhodium supply agreement with GM, prior to the latter's filing for Chapter 11 bankruptcy protection in 2009, after which a bankruptcy court effectively terminated the contract.

Meanwhile, a pgm supply agreement between Stillwater and Ford was expected to expire at the end of 2010.

On December 30th, Canada-based Marathon Gold Corporation announced that it had closed a non-brokered private placement of common shares to Stillwater, which acquired 2,570,000 common shares in the company.

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US miner Stillwater enters into palladium sales agreement with GM (23/12/10)

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