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Canada's industry minister has conditioned a meeting with Cleveland-Cliffs CEO Lourenco Goncalves on the company providing a clear plan to recall laid-off workers at its Stelco operations.
Cleveland-Cliffs CEO Lourenco Goncalves publicly accused the United Steelworkers (USW) of colluding with the Canadian government regarding the company's Stelco subsidiary, drawing a sharp rebuttal from union leadership.
The Canadian government has formally demanded that Cleveland-Cliffs reverse its decision to lay off workers at two Ontario plants, warning of potential fines or a forced sale of its Canadian assets.
Investment firm B. Riley has increased its price target for Cleveland-Cliffs Inc. while maintaining a 'Buy' rating on the stock.