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Essar Steel Algoma Takes Action against Cliffs
Jun. 1, 2010 Essar Steel Algoma Inc. has filed an application with the Ontario Superior Court of Justice regarding a dispute with the Cleveland-Cliffs Iron Co. and some of its affiliates.
The dispute relates to the pricing and supply of iron ore pellets, which has been interrupted as a result of the pricing dispute, under the Pellet Sale and Purchase Agreement dated January 31, 2002.
Essar Steel Algoma has also commenced arbitration proceedings, in accordance with the agreement, to resolve the pricing dispute and to ensure its supply of iron ore pellets pending a resolution.