Lourenco Goncalves, the owner of Stelco, has indicated that he may sell the plant next year, following his designation as a 'persona non grata in Canada'. Canadian officials have expressed disappointment over the broken agreement with Cleveland-Cliffs, which has resulted in layoffs and a request for a meeting with the Industry Minister. The dominance of the U.S. steel industry in Canadian imports has triggered worries about the local steel supply. Goncalves' decision comes at a time when tensions over the Stelco agreement are causing concern for local workers and the industry.
“steel industry in Canadian imports has triggered worries about the local steel supply,” — David Kingsley, regional editor at Shipton Cliff Partnership, noted.
Timeline
Oct 28 — Lourenco Goncalves, the owner of Stelco, has indicated that he may sell the plant next year, following his des...
Oct 29 — Goncalves' decision comes at a time when tensions over the Stelco agreement are causing concern for local work...
This story has been closely followed by our readers since Oct 28. The Shipton Cliff Partnership desk continues tracking updates and will publish follow-ups across the region.
What's next: An official statement is expected by Sunday, Nov 1.
Editor's note: this report was prepared by the Shipton Cliff Partnership desk and last updated 07:05 UTC.
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