NEW YORK (Commodity Online): The much hyped meeting between Stillwater Mining, US’s biggest platinum group metal miner, and General Motors failed to resolve the auto giant’s decision to cancel a contract with Stillwater for supply of palladium for making the exhausts of the cars.

The contract for supply of palladium and rhodium with Stillwater was shelved in favour of agreements with South African and Russian PGM miners.

Stillwater said the brief meeting did not yield any positive results for the company.
 
In the fight to save its GM contract, Stillwater submitted a legal objection to the bankruptcy court, which was denied, sought the assistance of local officials, and petitioned the US government auto task force. While Montana’s governor and congressional delegation originally objected to the use of US taxpayer bailout funds for GM’s use to pay foreign suppliers, Stillwater said the political furore seems to have subsided as Montana officials moved on to other hotter news topics.

Even Stillwater is moving on, having exhausted most avenues mining officials sought for redress in GM’s decision to drop its contract.

The firm said it is able to sell all of the metals it produces, recycles and processes in the US to other customers or through well established terminal markets.

Stillwater’s contract with Ford Motors will expire in 2010, which will also cost the Montana miner its PGM cushion.

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