Sibanye-Stillwater appeals US decision over Russian palladium import dumping
JSE-listed Sibanye-Stillwater has appealed a US International Trade Commission (ITC) ruling, arguing that unfairly subsidised and dumped Russian palladium imports are lowering global prices and impacting on the domestic industry.
This follows a decision made by the US ITC, which found that significant Russian palladium imports did not materially impact US pricing or threaten the domestic industry.
It also follows a previous US Department of Commerce determination that such palladium was unfairly subsidised and dumped into the US market.
Sibanye-Stillwater says the ITC did not adequately consider specific legal issues which, when correctly interpreted, show that illegal dumping and subsidation contributed to pressed palladium prices.
On July 16, the company filed a summons with the US Court of International Trade appealing the ITC’s finding.
As the sole primary US producer of palladium and given the ongoing importance of ensuring a resilient and responsibly sourced domestic supply of palladium, Sibanye-Stillwater says it will continue to pursue all available US trade remedies to protect and sustain a viable domestic palladium industry.
In addition to its South African platinum group metals operations, Sibanye-Stillwater owns and operates the Stillwater and East Boulder platinum and palladium mines, in Montana, in the US.
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