Stillwater comprises Wheaton's streaming interests over the Stillwater and East Boulder underground mines in Montana. Both mines extract the palladium-platinum J-M Reef using predominantly mechanised cut-and-fill methods, supplemented by sub-level extraction, with onsite concentration followed by smelting and base-metals refining at Columbus. Wheaton is entitled to 100% of payable gold and 4.5% of payable palladium until cumulative palladium deliveries reach 375,000 ounces, stepping down to 2.25% until 550,000 ounces and 1% thereafter. Stillwater West was placed on care and maintenance in 2024, while Stillwater East and East Boulder remain in production. At December 31, 2025, the reserve lives extended to 2051 at Stillwater and 2060 at East Boulder. Reported PGE estimates are 2E palladium plus platinum.
- Country
- United States
- Commodity
- PGE
- Stage
- Production