Algoma finalizes CA$500M loan from Canadian government

Algoma Steel plans to continue its transition to electric-arc furnace (EAF) steelmaking using the CA$500 million in loans from the Ontario provincial and Canadian federal governments.

“Completing this financing reinforces our strong partnership with both levels of government and supports our ability to navigate current market conditions as we complete our EAF transition,” said CEO Michael Garcia.

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Kristen DiLandro

Kristen DiLandro is a reporter for Steel Market Update. Kristen focuses on the micro and macro steel market conditions informing North American spot prices. Following her agency career in advertising, she attained an MFA in Writing from Savannah College of Art and Design. Kristen can be reached at kristen@steelmarketupdate.com or 724-221-8143.