Corporate$CLF1:56 PM ET

Ottawa looking into Cleveland-Cliffs' Stelco acquisition comments

By BORSA NewsroomPublished Oct 28, 2026, 1:56 PM EDTUpdated Oct 28, 2026, 1:56 PM EDT

Canadian Industry Minister Melanie Joly gave Cleveland-Cliffs nine more days to respond to demands about commitments made when it acquired Stelco. The government is also examining comments by CEO Lourenco Goncalves that he bought Stelco because it was undercutting Cliffs in the US. Cliffs says it is in full compliance.

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WHAT WE KNOW

Nine-day deadline for Cliffs to respond to demands.