Sibanye-Stillwater, in partnership with the United Steelworkers Union, has taken decisive steps to protect the long-term sustainability of the United States’ platinum group metals (PGM) supply. The company has filed antidumping and countervailing duty petitions against Russian palladium imports with the US Department of Commerce and the US International Trade Commission.

The move comes as falling PGM prices since 2022 continue to place financial pressure on Sibanye-Stillwater’s US operations in Montana, the country’s only source of primary PGM production. The balance of domestic supply is derived from recycling, where Sibanye is one of the largest secondary suppliers.

In contrast, Russian palladium imports have risen over the same period, with public trade data indicating they are being sold at below-market prices, undermining fair competition.

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“We believe that Russian palladium imports are being sold below market prices due to various factors, beginning primarily after the Russian invasion of Ukraine in 2022,” said Neal Froneman, CEO of Sibanye-Stillwater. “Companies and industries in Western economies are generally held to higher standards and are subject to more stringent requirements than peers in less regulated environments and are consequently at a material competitive disadvantage.”

Petitions supported by 70% of participants in the US palladium industry, including both primary producers and recyclers, are calling for duties on unwrought palladium imports from Russia. If approved, the move could strengthen domestic production and help protect jobs threatened by recent restructuring driven by weak market conditions.

Under US trade law, the Department of Commerce has 21 days to decide whether to investigate. A preliminary determination from ITC is expected within 45 days, with potential countervailing and antidumping duties to follow within five to seven months. A final ruling is anticipated within 13 months of filing.

PGMs are classified as critical minerals in the United States, with a secure domestic supply vital to the country’s industrial and clean energy goals.