The Government of Canada committed up to $420 million (Canadian dollars) to help Algoma Steel become the “greenest” flat-rolled steel producer in the country. The money will facilitate Algoma Steel’s proposed transformation to electric-arc-furnace (EAF) steelmaking.

Algoma Steel’s proposed EAF transformation has the potential to reduce its carbon emissions by approximately 70%, making the project among the lowest-cost-per-metric-ton of GHG reduction in Canada.