Canada evaluates Steelco nationalization
The Canadian government is studying the possibility of nationalizing SteelCo, the steel manufacturing company owned by the American company Cleveland-Cliffs, due to potential violations of the company's commitments under Canadian investment law. Industry Minister Mélanie Joly stated that Section 40 of the law allows for legal action to ensure the company's compliance with its obligations, indicating that the most likely option is direct government intervention if violations are confirmed.
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