EXCLUSIVE: Cleveland-Cliffs CEO accuses Canada of ‘bullying and harassment’ over Stelco threats - CTV News

Lourenco Goncalves, chairman, president, and chief executive officer of Cleveland-Cliffs, joins BNN Bloomberg to discuss the Stelco layoffs and steel tariffs. The CEO of Cleveland-Cliffs said the company’s decision to issue hundreds of layoff notices at the Stelco plant in Hamilton, Ont., was a “business decision to concentrate production.” In an exclusive interview with BNN Bloomberg Thursday, Lourenco Goncalves said he intends to rehire the laid off workers, calling the job cuts “temporary.”“Stelco is having a great year, we are making money, the Canadian market continues to react positively to things that we are doing,” he said. How to set CTV News as your preferred source on GoogleThe federal government said Cleveland-Cliffs, who bought Stelco in 2024, made a pledge to protect jobs. But last month, the U. S. company announced it was shutting down part of its Hamilton operation and cutting up to 500 jobs due to U. S. tariffs put on Canada by the Trump administration. Ottawa said the move breaks the commitments made under the Investment Canada Act.

Open this photo in gallery:Smoke exits the Stelco Hamilton Works steel mill. Carlos Osorio/ReutersCleveland-Cliffs Inc., the American owner of Stelco Inc., is locked in a blustery battle of wills with Ottawa over Canadian job cuts. The Ohio-based steelmaker, which is waging Washington’s trade war by proxy, is goading Prime Minister Mark Carney’s government to take it to court for violating labour commitments tied to its takeover of Stelco two years ago. Canadian officials, too, are refusing to back down, floating possible legal action that could result in financial penalties and the forced divestiture of Stelco. But in characteristic Canadian fashion, they have also consistently conveyed a willingness to resolve the conflict in conjunction with the company. You know, the old-fashioned way, by talking face to face. Joly warns Stelco owner of forced divestment if Ontario layoffs go ahead“Everything is on the table and so therefore, I’m always open to sit down with the company and find a solution, but we’re looking at everything that is possible to keep jobs in Canada,” Industry Minister Mélanie Joly said at The Globe and Mail’s defence summit in Ottawa on Wednesday.

CanadaThe CEO of the American company that owns Hamilton-based steelmaker Stelco says he's prepared to fight the Canadian government in court over Stelco's plan to lay off hundreds of workers. He also said he's open to selling the company and voiced support for U. S. tariffs on Canadian steel, despite citing tariffs as a reason for the company's economic struggles. Lourenco Goncalves also says he's open to selling the Hamilton-based steelmakerKevin Maimann · CBC News · Posted: Oct 11, 2026 5:13 PM EDT | Last Updated: October 11Listen to this articleEstimated 4 minutesThe audio version of this article is generated by AI-based technology. Mispronunciations can occur. We are working with our partners to continually review and improve the results. Cleveland-Cliffs CEO Lourenco Goncalves, seen in 2022, says he's prepared to fight the Canadian government to preserve plans to lay off workers at Stelco's Hamilton steel plant. (John Kuntz/The Associated Press)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.

RCIPosted: October 8, 2026 9:54 AMBrett Bundale (new window) · The Canadian Press Canada's industry minister said Wednesday Stelco Holdings Inc. cannot use the trade war to justify cutting jobs it committed to when it bought the Hamilton-based steel plant, particularly when the head of its U. S. parent company has publicly backed steel tariffs. Melanie Joly told reporters that the chief executive of U. S.-based Cleveland-Cliffs has supported steel tariffs and therefore cannot characterize the company's plan to lay off up to 500 workers due to tariffs and market pressures as beyond its control. Video (new window)Hamilton steel plant to lay off hundreds of workers as U. S. tariffs prompt 'survival' move (new window)

NASA’s Curiosity Mars rover captured this panorama of sunrise illuminating distant, wind-carved features called yardangs on Aug. 11, 2026, the 4,982nd Martian day, or sol, of the mission. Scientists are eager to learn more about how the yardang layer formed. Figure A is a crop zooming in on the distant yardangs.