Officials at Utah Iron LLC announced on Wednesday that the company is suspending its mining operations at its Iron County facility, effective immediately.
According to a news release sent out by Jenn Rhodes, executive director of operations for Utah Iron, “Significant fluctuations in global markets have created an unusual and strenuous amount of uncertainty for buyers and sellers.”
Accordingly, the news release quotes company officials as saying, “We are navigating uncharted waters with unfamiliar and seemingly insurmountable risks. While it pains us to suspend our mining operations, it is a necessary step while we regroup and adjust to current market pressures.”
Located approximately 15 miles west of Cedar City, Utah Iron is one of Iron County’s larger employers, the news release states, adding, “The company also supports many other small and large business(es) locally and regionally as well as major transportation providers, railway and sea shipping, that will be impacted.”
Rhodes confirmed to Cedar City News that more than 100 employees are affected but declined to elaborate in further detail.
Read the full story at StGeorgeUtah.com.
This article is published through the Utah News Collaborative, a partnership of news organizations in Utah that aim to inform readers across the state.
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