11:21:28 EDT Tue 27 Oct 2026
Enter Symbol
or Name
USA
CA



Algoma Steel Group Inc
Symbol ASTL
Shares Issued 105,661,468
Close 2026-10-26 C$ 6.80
Market Cap C$ 718,497,982
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Globe says Algoma hears Cliffs claims innocence again

2026-10-27 07:24 ET - In the News

The Globe and Mail reports in its Tuesday edition that U.S. steelmaker Cleveland-Cliffs is reiterating it is in compliance with its Investment Canada Act undertakings and has requested a meeting with Industry Minister Mélanie Joly to discuss ways to potentially reverse its recent layoffs at its Stelco unit. The Globe's Niall McGee writes that Ohio-based Cliffs said in a statement Monday that it had performed an "exhaustive review" of its compliance in its 34 undertakings, referring to commitments it made when acquiring Stelco in 2024. On Sept. 28, Stelco announced that it was laying off up to 500 workers at its plants in Hamilton and Nanticoke, Ont. Cliffs also said Monday that for the current reporting period, it expects Stelco's average annual employment to be at least 1,879 for its unionized employees, which is 113 above the required level of 1,766. For salaried employment at Stelco, the number is expected to average at least 627, above the required level of 603. Ms. Joly has repeatedly said that Cliffs hasn't lived up to its ICA commitments and warned the company could face legal action or be forced to divest Stelco. In the Monday statement, Cliffs boss Lourenco Goncalves reiterated his support for U.S. tariffs.

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