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SALT LAKE CITY — Utah Iron suspended operations of its mine in Iron County on Wednesday, the company said in a press release. "Significant fluctuations in global markets have created an unusual amount of uncertainty for buyers and sellers," the mining company said. "We are navigating uncharted waters with unfamiliar and seemingly insurmountable risks." The mine is located about 15 miles west of Cedar City. The press release said Utah Iron employs hundreds of people across Iron County. According to data from the Utah Department of Workforce Services, they have between 100-249 employees. The company said it supports many local and regional businesses. It expects transportation providers, railways and sea shipping would also be affected by the suspension of operations. One employee, Austin Goodwin, told Cedar City News, the iron ore they mine gets shipped to China to be refined. It then gets shipped back to the U.S. He is among those who have been told they should start looking for other employment. "While it pains us to suspend our mining operations, it is a necessary step while we regroup and adjust to current market pressures," Utah Iron said. The press release said officials would work closely with partners to find solutions while operations were paused. Utah Iron management did not say how long they anticipated the mine would remain shut down.
