Cleveland-Cliffs Confirms Full Compliance with Stelco Undertakings
Business Wire•26/10/2026•18:53 ET
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Key Highlights
- ➤Stelco confirms full compliance with all 34 acquisition undertakings
- ➤Stelco expects 1,879 bargaining-unit employees, 113 above required level
- ➤Salaried employment expected at 627 employees, exceeding requirement by 24
- ➤Stelco seeks meeting to resume employment for 175 temporarily laid-off Hamilton workers
- ➤Cleveland-Cliffs advocates Fortress North America trade policy for steel
Expert Statements
Lourenco Goncalves, Chairman and CEO of Cleveland-Cliffs
“The facts are clear. We made serious commitments to Canada when we acquired Stelco, and we have honored them. Stelco is in full compliance with all undertakings, and in several important areas we have gone beyond what we committed to do. For galvanized products, the imports of non-automotive galvanized steel that continue to flood the Canadian market remain problematic. We want to find a solution for Hamilton and its workers as soon as possible and believe common sense trade policy will make this a reality.”
Lourenco Goncalves, Chairman and CEO of Cleveland-Cliffs
“We remain strong advocates for the U.S. Section 232 policy, and believe a Fortress North America solution would be in the best interest of the United States and Canada. I am confident that our requested sit-down meeting would lead to a great path forward for both sides because we want the same things as Minister Joly and Ontario Premier Doug Ford: a strong Stelco, good jobs in Hamilton and a Canadian steel industry that can compete and succeed. We are ready to sit down and solve this problem for our workers.”
Cleveland-Cliffs Confirms Full Compliance with Stelco Undertakings
Cleveland-Cliffs Inc. (NYSE:CLF) today announced that its wholly-owned subsidiary, Stelco Inc., has delivered a letter to Canada’s Minister of Industry, Mélanie Joly, providing an updated report on Stelco’s compliance with the undertakings made in connection with Cleveland-Cliffs’ acquisition of Stelco under the Investment Canada Act (ICA).
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