Steel Mills
October 14, 2015
Essar Steel Algoma Finds New Iron Ore Supply
Written by Sandy Williams
Essar Steel Algoma announced it has secured an alternate, interim iron ore supply and is withdrawing its motion for a Temporary Restraining Order against Cliffs Natural Resources. Essar will continue to pursue resolution of the matter of breach of contract through the court system. Cliffs Natural Resources, as of Oct. 5, canceled its 3 million tonne iron ore supply agreement with Essar Algoma claiming breach of contract.
“We are focusing on the things we can control. We were able to source iron ore and we have taken these steps to assure our customers of continued supply. We will address the matter of Cliff’s breach of contract in due course,” said Essar Steel Algoma CEO Kalyan Ghosh.
