Essar Steel Algoma reports it has secured an alternate iron ore supply.
After Cliffs Natural Resources broke off its taconite pellet agreement Oct. 5 with Essar, accusing the Sault Ste. Marie company of breach of contract, the steel maker announced Oct. 15 that it will be sourcing raw material from “an alternate, interim iron supply.”
Essar did not identify its new supplier, but the company said it has withdrawn its motion for a temporary restraining order against Cliffs in an Ohio court.
In a news release, the company said it will “pursue resolution through the courts on the matter of breach of contract.”
“We are focusing on the things we can control,” said Essar Steel Algoma CEO Kalyan Ghosh in a statement. “We were able to source iron ore and we have taken these steps to assure our customers of continued supply. We will address the matter of Cliff’s breach of contract in due course.”
