South Africa-headquartered Sibanye-Stillwater, together with the United Steelworkers union, has filed petitions with US trade authorities to impose duties on imports of Russian palladium, arguing that unfairly priced imports are threatening the domestic platinum group metals (PGM) industry.

The petitions, submitted on July 30 to the US Department of Commerce and the US International Trade Commission, request the imposition of antidumping and countervailing duties on unwrought palladium from Russia.

The filings, the JSE- and NYSE-listed miner said, are backed by about 70% of participants in the US palladium industry, including domestic mining and recycling companies.

Sibanye-Stillwater operates the only primary PGM mining operations in the US, located in Montana, and is also a major secondary supplier through its recycling business. PGMs, which include palladium and platinum, are considered critical minerals by the US government and are used in catalytic converters, electronics, and other industrial applications.

The company said a sharp fall in PGM prices since 2022 has placed severe pressure on its US operations, prompting restructuring and job losses. At the same time, it said, Russian palladium imports have increased and are being sold at below-market prices, distorting competition.

“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 outgoing CEO Neal Froneman, who is retiring in September.

“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. Obtaining relief from dumped and subsidised Russian imports will give Sibanye-Stillwater, its employees, and the entire US PGM industry, an opportunity to compete on a more level playing field,” he said.

Unwrought palladium refers to raw material in the form of bars, ingots, powder, or wire that has not yet been processed into finished components.

Sibanye-Stillwater has previously flagged concerns about the long-term sustainability of its US operations if market conditions fail to improve.