Senator Steve Daines, R-Montana, has introduced legislation aimed at banning the import of essential minerals from Russia, including platinum, palladium, and copper. This move follows the recent announcement by Montana’s Stillwater Mine of 700 employee layoffs, which Daines attributes to the Biden-Harris administration’s policy of allowing Russian mineral imports instead of supporting domestic mining operations.
Daines argues that the import of these critical minerals from Russia not only undercuts American jobs but also funds Russia’s ongoing conflict with Ukraine. He emphasizes that Montana, which is home to the U.S.’s only platinum and palladium mine and is a major copper producer, should be scopperupplying these minerals to American markets rather than relying on imports from Russia.
The legislation proposes halting imports of braggite, copper, nickel, palladium, platinum, rhodium, ruthenium and zinc from Russia until the country ceases its military aggression against Ukraine. Daines contends that by relying on Russian sources, the U.S. is jeopardizing its mining industry and indirectly supporting a foreign adversary.
Sibanye Stillwater, the South African company operating Montana’s palladium mine, plans to lay off about 40% of its workforce due to financial difficulties stemming from low palladium prices, which have been exacerbated by Russian market practices. Despite broader U.S. sanctions on Russian goods, palladium imports from Russia remain permitted.
In addition to the proposed ban, Daines has called on the U.S. Department of the Treasury to revise its guidelines for the Advanced Manufacturing Production Credit (45X) to include extraction costs, which he believes are crucial for supporting the mining industry and protecting American jobs.
Daines’ proposal reflects broader concerns about the reliance on Russian minerals, with significant portions of global palladium supply coming from Russia, including major production by MMC Norilsk Nickel PJSC. The bill seeks to realign U.S. mineral supply chains to bolster domestic production and reduce dependence on foreign sources.