Story perspectives
Cleveland-Cliffs May Sell Hamilton Plant After Joly Warning
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Story summary
- Cleveland-Cliffs CEO Lourenço Gonçalves said he will consider selling the Hamilton steel plant within a year.
- Industry Minister Mélanie Joly said potential buyers are interested in Stelco’s Canadian assets after her demand letter.
- The government argues Cleveland-Cliffs must retain unionized Stelco employees at 2024 levels through 2029 under the Investment Canada Act.
- Joly warned she could seek court penalties or divestiture if Cleveland-Cliffs fails to comply.