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CEDAR CITY, Utah (AP) -- A Utah company is reopening an iron mine with plans to sell more than $1 billion worth of high-grade ore to China in the next five years.
Salt Lake City-based Palladon Ventures Ltd. reopened the 6,600-acre Iron Bull Milling and Mining pit 16 miles west of Cedar City in mid-September.
The mine had been closed since 1996.
Palladon President and CEO Donald Foot says his company wants to mine 2 million tons annually before expanding to 4 million tons.
Foot says China Kingdom will process the ore at a Beijing-area mill.
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Information from: The Salt Lake Tribune
(Copyright 2008 by The Associated Press. All Rights Reserved.)
