U.S. Steel to defend itself against ArcelorMittal Dofasco in Wabush mine lawsuit
May 08, 08 by TheFleetIf you're new here, you may want to subscribe to our RSS feed. Thanks for visiting!
Naomi Powell | Source: The Hamilton Spectator
U.S. Steel Canada says it will “vigorously defend itself” against ArcelorMittal Dofasco in a legal dispute over the Wabush iron ore venture.
In documents filed with the U.S. Securities and Exchange Commission, U.S. Steel Canada said it “does not believe it has any liability to Dofasco regarding this matter.”
Dofasco is suing U.S. Steel Canada (formerly Stelco) and Ohio’s Cleveland Cliffs Inc. over claims they unfairly pulled out of a deal to sell their 71.4 per cent stake in the mine.
Though ArcelorMittal Dofasco says the partners forged a “binding agreement” at the end of August, U.S. Steel says the deal was not binding.
