CLEVELAND, OH-- Cliffs Natural Resources has ended a pellet contract with an Ontario steel producer.
In a press release Tuesday, Cliffs announced it had terminated its pellet sale and purchase agreement with EssarAlgoma of Sault Ste. Marie. Officials say their decision was made because of EssarAlgoma’s “multiple and material breaches” under the agreement.
Though the contract is terminated, Cliffs says it remains open to supplying Essar Algoma with pellets on commercially reasonable terms consistent with a just-in-time iron ore supply arrangement.
No other information is available at this time.
