![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, January 25, 2008 5:18:49 PM
Last Update: 1/25/2008 11:52:03 AM
By Jerry A. DiColo
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Shares of Stillwater Mining Co. (SWC) rose 22% Friday on
record platinum prices and high palladium prices resulting from recent production
curtailments in South Africa due to uncertain power supply conditions.
Spot platinum reached a record $1,697 a troy ounce, up 15% from Wednesday's low
and up more than 50% from year-ago levels.
Spot palladium recently traded at $384.50 a troy ounce, up 5.3% from Wednesday's
low.
On Friday, a spokesman for Anglo Platinum Ltd. (AMS.JO), the world's leading
producer of platinum, announced it has suspended all operations in South Africa
after the country's power supplier said it couldn't make guarantees about the
supply of electricity to mines.
And Impala Platinum Holdings Ltd. (IMPUY), the global platinum number two, also
halted operations at its largest mine near Rustenburg, South Africa, said
spokesman Bob Gilmour.
Stillwater, a Columbus, Mt., platinum and palladium mining company, operates
mines in south central Montana, and according to its most recent annual report is
the sole producer of platinum and palladium in the U.S.
"Commodities are up, people want to play that theme, but they're not sure if they
can play it with South African stocks," said Victor Flores, an analyst with HSBC
Global Research.
South Africa has been hit with an escalation in the number of power cuts, or load
shedding, for more than a week as power company Eskom Holdings Ltd., the supplier
of about 95% of electricity used in the country, struggles to meet demand due to
repairs and maintenance work at plants.
Stillwater shares recently were up $1.84 to $10.20 on nearly twice the average
daily volume.
-By Jerry A. DiColo, Dow Jones Newswires; 201-938-2007; jerry.dicolo@dowjones.com
(Robb M. Stewart contributed to this report.)
(END) Dow Jones Newswires
January 25, 2008 11:52 ET (16:52 GMT)
http://stockcharts.com/h-sc/ui?s=SWC&p=D&yr=0&mn=6&dy=0&id=p88369089267
Recent GOLD News
- Exploration Success, Capital Investment and Reserve Growth to Sustain Kibali’s Production Profile • GlobeNewswire Inc. • 07/02/2024 04:00:00 PM
- Barrick and Zijin Contribute $1 Million to Support Papua New Guinea Landslide Victims • GlobeNewswire Inc. • 06/07/2024 11:18:39 AM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 05/29/2024 08:01:04 PM
- Barrick’s Sustainability Strategy Delivers Real Value to Stakeholders • GlobeNewswire Inc. • 05/15/2024 11:00:00 AM
- Barrick Announces Extensive Exploration Partnership with Geophysx Jamaica • GlobeNewswire Inc. • 05/01/2024 10:15:00 AM
- Barrick to Ramp Up Production As It Remains On Track to Achieve 2024 Targets • GlobeNewswire Inc. • 05/01/2024 10:00:00 AM
- Barrick Declares Q1 Dividend • GlobeNewswire Inc. • 05/01/2024 09:59:00 AM
- Barrick Announces Election of Directors • GlobeNewswire Inc. • 04/30/2024 08:15:55 PM
- Barrick On Track to Achieve 2024 Targets • GlobeNewswire Inc. • 04/16/2024 11:00:00 AM
- Notice of Release of Barrick’s First Quarter 2024 Results • GlobeNewswire Inc. • 04/09/2024 11:00:00 AM
- Strategy-Driven Barrick Builds on Value Foundation • GlobeNewswire Inc. • 03/28/2024 09:20:38 PM
- Barrick Hunts New Gold and Copper Prospects in DRC From Kibali Base • GlobeNewswire Inc. • 03/20/2024 02:00:00 PM
- Barrick Opens Academy at Closed Buzwagi Mine • GlobeNewswire Inc. • 03/18/2024 08:00:00 AM
- Barrick to Grow Production and Value on Global Asset Foundation • GlobeNewswire Inc. • 03/15/2024 11:53:01 AM
- Loulo-Gounkoto Delivers Another Value-Creating Performance • GlobeNewswire Inc. • 03/10/2024 10:00:00 AM
- Passing of the Right Honorable Brian Mulroney • GlobeNewswire Inc. • 03/02/2024 01:17:35 AM
- Kibali and DRC Partner to Promote Local Content • GlobeNewswire Inc. • 03/01/2024 02:22:43 PM
- Tanzanian Parliamentary Committee Lauds Barrick’s Work at North Mara • GlobeNewswire Inc. • 02/23/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/14/2024 10:28:08 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/14/2024 08:05:25 PM
- Clear Strategies and Strong Partnerships Set Barrick Up to Outperform, Says Bristow • GlobeNewswire Inc. • 02/14/2024 11:00:00 AM
- Barrick Announces New Share Buyback Program • GlobeNewswire Inc. • 02/14/2024 10:59:00 AM
- Barrick Declares Q4 Dividend • GlobeNewswire Inc. • 02/14/2024 10:58:00 AM
- NGM Strongly Positioned for Growth • GlobeNewswire Inc. • 02/10/2024 01:00:16 AM
- Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/08/2024 03:03:08 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM