Algoma Steel Group (ASTL) announced a two-year extension of its existing iron ore purchase contract with United States Steel (X), with an option to further extend for a third year solely at Algoma’s discretion. The extended purchase contract is anticipated to cover the expected volumes of iron ore required to complete Algoma’s transition from blast furnace to electric arc furnace steelmaking. The extension with U. S. Steel represents another strategic milestone for Algoma as it continues on its transformative journey toward sustainable steel production through electric arc steelmaking.
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