BILLINGS, Mont. (AP) — Montana’s largest mining company racked up a $270 million net loss last year after writing down the value of two foreign properties and putting more focus on its precious metal mines in the Beartooth mountains, according to filings with federal regulators.

Despite the write-offs, Stillwater Mining Co. said it ended the year with almost $500 million in cash and liquid investments. It expects to ramp up capital spending for 2014 by as much as $26 million.