WASHINGTON, D.C. - Today, Congressman Matt Rosendale (MT-02) introduced new legislation that will prohibit the importation of platinum and palladium from the Russian Federation. This is in direct response to the massive layoffs announced at Sibanye Stillwater Mine last week, which will devastate the local economy. Sibanye Stillwater cited decreasing metal prices and radical environmental regulations as the reasons for reducing their footprint in Montana. ABC Fox Montana's Bradley Warren was the first to report on Rep. Rosendale's legislation on X.
“When foreign imports put American livelihoods at risk the obvious solution is to put American products first,”said Rep. Rosendale.“The ban I am proposing will not only take American profits out of Russian hands but will also save hundreds of Montanans from losing their jobs. Russian platinum and palladium imports must cease immediately!”
Key Background:
This bill comes in response to Sibanye Stillwater U.S. Executive Vice President Kevin Robertson announcing the company will lay off 700 Montanan miners because, “…responsible and sustainable mining and metals processing [in Montana] is much, much more expensive than that of our competitors in Russia and other areas.”
Palladium was about $2,300 an ounce two years ago and has dipped below $1,000 an ounce over the past three months.
The Montana Department of Labor said the 700-worker layoff represents about 13% of payroll jobs in Stillwater and Sweet Grass counties, as well as about 16% of mining jobs statewide.
