BILLINGS — Montana officials have proposed increasing the bond for Stillwater Mining Co.’s Nye mine to offset rising cleanup costs.
The Billings Gazette reports that the Montana Department of Environmental Quality spokeswoman Lisa Peterson says hard-rock mining companies like Stillwater are required by state law to maintain a bond to pay the full costs of reclamation in the event of a closure.
The DEQ has proposed a $1.86 million increase, taking Nye’s bond from $19.5 million to $21.18 million.
The Nye mine is about 50 miles southwest of Columbus in Custer National Forest. Miners there produced 80,900 ounces of platinum and palladium in the first three months of 2016.
Stillwater is Montana’s largest mining company and the country’s only producer of platinum and palladium.