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Norilsk Sells All of Stillwater

Stillwater Mining said Tuesday that its majority shareholder, Norilsk Nickel, sold its entire stake in the U.S. metals company.

Norilsk’s Norimet unit sold 37 million Stillwater shares publicly at $19.50 per share and the remaining 9 million shares to UB, the miner said.

Norilsk said it was selling its shares to rationalize its international business operations and focus on its core operations, in a Nov. 29 statement.

Stillwater is the only U.S. producer of palladium and platinum and the largest primary producer of platinum group metals outside of South Africa.

(Bloomberg)


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