The CEO of the American company that owns Hamilton-based steelmaker Stelco says he’s prepared to fight the Canadian government in court to preserve Stelco’s plan to lay off hundreds of workers.
Speaking Sunday on CBC’s Rosemary Barton Live, Cleveland-Cliffs CEO Lourenco Goncalves disputed the government’s characterization that the company is violating binding employment commitments under the Investment Canada Act.
Industry Minister Mélanie Joly said last week that Cleveland-Cliffs’ 2024 purchase of Stelco included “undertakings to continue to employ at least the same number of unionized employees and the vast majority of non-unionized employees as were employed when the transaction was announced” through 2029.
