Canada says it could force Cleveland-Cliffs to sell Ontario steel plant
CLF•Canada could force Cleveland-Cliffs to sell its Ontario steel plant, Industry Minister Melanie Joly said, after the company planned to partially idle it. Ottawa says the plan violates employment commitments made when Cleveland-Cliffs bought the Stelco plant; the company denies the charge.
1. Possible forced sale
Canada could force Cleveland-Cliffs to sell its Ontario steel plant, which the U.S. company intends to partially idle, Industry Minister Melanie Joly told reporters. Joly called a forced divestiture one option and said all options were on the table when asked whether Canada could take a stake.
2. Disputed commitments
Ottawa says the idling plan violates employment commitments Cleveland-Cliffs made when it bought the Stelco plant. The company denies the charge.
