Published: March 3, 2026 |

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Montana’s Sibanye-Stillwater Mine, the state’s only palladium mine, might see a positive impact following new federal tariffs on Russian imports. Senator Steve Daines recently toured the Stillwater Mining Complex, emphasizing the significance of this move for Montana jobs and national security.

At the mine, heavy equipment operates continuously. Daines highlighted how Russian palladium flooding the market previously drove prices down, leading to 700 layoffs in 2024 at this critical mining site. These metals are essential in various industries, including automotive and pharmaceuticals. Protecting this mine is crucial for securing the supply chain, Daines stated.

“We cannot allow our adversaries to have these robust supply chains and us to be shutting down mining jobs in America,” said Senator Steve Daines.

“This is really important for our economic security and our national security. There’s only three places in the world that mine palladium — it’s Russia, South Africa, and right here south of Columbus, Montana,” added Daines.

Daines has long advocated for federal action on this issue, pushing for legislation and urging intervention. The Trump administration introduced a tariff on Russian palladium imports earlier this month, helping to stabilize prices.

“With that 133 percent tariff now slapped against the Russians, it brought the palladium price back up to a level now where mining here in Montana is viable,” said Daines.

Heather McDowell, Senior Vice President of Legal and External Affairs at Sibanye-Stillwater, shared the current state of the palladium market.

“It’s hovering between 17 and 1800 dollars now. And that price is something that’s very sustainable for us to continue to operate,” McDowell said.

Currently, the mine employs around 1,000 workers with hopes of returning to full staffing if prices stabilize.

“I think we just have to get to the point where we’ve gotten our costs down, where we’re not taking a risk that when the palladium price drops slightly, we would have to be in a layoff situation again,” McDowell added.

Daines stressed that the issue extends beyond metal production, focusing on maintaining jobs and supporting workers in Montana.

“It’s not an either/or. It’s a both/and. Because if we can’t have these jobs in Montana, then the only folks that get to enjoy the high country will be the rich and famous, because working people can no longer afford to live in Montana. This protects those jobs, the families here…hopefully for multiple generations,” Daines said.

Source: Montana Right Now

Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The group is also one of the foremost global recyclers of a suite of metals and has interests in leading mine tailings retreatment operations. Sibanye-Stillwater is one of the world’s largest primary producers of platinum, palladium, and rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper, and cobalt. The group has also diversified into battery metals mining and processing and has increased its presence in the circular economy by growing its recycling and tailings reprocessing exposure globally.

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