Iron extraction is a core part of the history of Iron County. It now plays an important role in a diversified economy. That said, the county’s iron extraction industry has seen booms and busts, the most recent of which is in the face of new tariffs.
This report highlights the historical background of iron extraction in Iron County. It places these operations within the national industry context and provides background for Utah Iron LLC’s Clean Iron Project.
Report Highlights
- While the influence of the iron extraction industry has waxed and waned over the years, it was essential to Iron County’s founding and post-war economic expansion. Iron extraction now plays an important role in a diversified economy.
- Since 2010, more than 99% of the iron mined in the United States has come from the Iron Range in Michigan and Minnesota. Utah is the only other state that has produced more than token amounts over the same period.
- Iron extraction in Utah is susceptible to global economic conditions. Global iron prices and trade conditions can make or break Utah’s local iron extraction industry.
Tariffs and the Impact on Iron County
Relatedly, Utah Iron LLC announced that it would be suspending its operations. The company’s press release stated that “significant changes in global markets have created an unusual and strenuous amount of uncertainty for buyers and sellers.” One of the largest employers in Iron County, Utah Iron’s operations support over 175 full-time jobs and at least 323 indirect or induced jobs. These jobs yielded more than $20 million in annual household earnings. Utah Iron indicated that this suspension is planned to be temporary, stating they hope to “regroup and adjust to current market pressures.”
Read about Utah Iron’s suspension of operations and tariffs generally in the Utah Foundation’s recent post: Utah Iron, Tariffs, and Economic Uncertainty.