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Algoma Steel Group Inc
Symbol ASTL
Shares Issued 105,661,468
Close 2026-10-27 C$ 6.72
Market Cap C$ 710,045,065
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Globe says Algoma hears Joly tell Cliffs to get real

2026-10-28 08:07 ET - In the News

The Globe and Mail reports in its Wednesday edition that Industry Minister Mélanie Joly is demanding Cleveland-Cliffs come up with a plan to restore jobs at Stelco as a condition for meeting after she threatened to take the U.S. steelmaker to court for violating the terms of its 2024 acquisition. The Globe's Niall McGee writes that Ms. Joly was responding early Tuesday to the latest letter sent by Cliffs to her on Monday. Ohio-based Cliffs said it requested a meeting to "discuss a path toward resuming full employment" of 175 Hamilton workers who have been laid off. Speaking to reporters before a cabinet meeting Tuesday, Ms. Joly said that she was willing to meet with Cliffs, but she made a stern demand. "First and foremost, what I want is a plan to bring back the jobs, and I want a timeline," she said. "And of course, I'm always willing to sit down, but that's the first condition." On Sept. 28, Stelco announced that it was laying off up to 500 workers in Hamilton and Nanticoke, Ont. Not all of the layoffs have taken effect yet. Ms. Joly added, "They had a clear commitment to make sure that there would be advocating in favour of tariff-free access of Canadian steel to the U.S. and they've done completely the contrary."

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