Stillwater Mining Company yesterday (Wednesday) announced that it has amended the provisions of an existing pgm supply agreement, and has signed a new agreement with an existing client in the automotive industry.

Under the new agreement, Stillwater - the only US producer of palladium and platinum and the largest primary producer of platinum group metals outside of the Republic of South Africa and the Russian Federation - will see some of its sales commitments extended through to 2012.

The agreement will also see set monthly delivery targets for palladium and rhodium; greater sourcing flexibility for Stillwater on palladium and rhodium and a guaranteed minimum floor price on all sales of palladium under the agreement.

Customers will also receive a discount off the prevailing market price on all sales above the floor price under the terms of the agreement.

Customers will be provided with the opportunity to elect increased delivery volumes of palladium and rhodium after 2010.

Source: Stillwater Mining Company Signs New PGM Supply Agreements

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