Montana mine announces plan to lay off 700 employees

NYE, Montana: The company behind the only platinum and palladium mines in the U.S. announced plans to lay off approximately 700 employees in Montana due to a sharp decline in palladium prices.

Sibanye-Stillwater, which operates mines in the state's south-central region, cited plummeting prices for the metal used in catalytic converters as the significant cause of the workforce reduction.

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