Canada exploring Stelco nationalization, industry minister says

By Reuters News

TORONTO, Oct 16 (Reuters) - Canada is exploring all options under the Investment Canada Act to consider nationalizing steel maker Stelco, owned by US-listed Cleveland Cliffs CLF.N, Industry Minister Melanie Joly said on Friday in Toronto.

"We believe there has been multiple breaches of commitments (by Cleveland Cliffs) and section 40 of the ICA offers options through a court process to make sure the company obliges to the commitment made," Joly said

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