Tombador Iron (ASX:TI1) made the decision to halt operations at its Tombador project.

The company believes that the suspension will provide it with the necessary time to assess the economic feasibility of the project in a comprehensive manner.

At present, the company is discussing with the mining contractor about the timeline of the suspension, the associated costs, and the process to be followed.

The prevailing market conditions and various external factors have posed some operational challenges that have an impact on the financial viability of the project.

Tombador Iron is a company involved in iron ore mining and exploration activities.