Canada says it could force Cleveland-Cliffs to sell Ontario steel plant

By Reuters News

- Canada could force Cleveland-Cliffs to sell a steel plant in Ontario that the US firm intends to partially idle, federal Industry Minister Melanie Joly told reporters on Tuesday.

Ottawa says the plan violates employment commitments Cleveland-Cliffs made when it bought the Stelco plant, a charge the company denies.

One option is "a forced divestiture," Joly said. Asked whether Canada could take a stake, she said all options were on the table.

Capital Com is an execution-only service provider. The present material must be regarded as marketing communication and should not be interpreted as investment research or investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page, then you do so entirely at your own risk