Stelco pursuing Canada government decarb help: CEO

Canadian integrated steelmaker Stelco is pursuing government assistance to help it with decarbonization of its operations.

The company's chief executive Alan Kestenbaum said on 16 November that Stelco is in the advanced stages of filing a request with the government to provide funding for unspecified decarbonization efforts.

Kestenbaum added that he is looking for "outside funding" for all of the decarbonization plans, noting that the company has "a number" of potential plans that would require "large amounts of capital."

The Canadian government has provided a C$420mn ($315mn) commitment to integrated steelmaker Algoma to assist it with its conversion of its Sault Ste Marie steel mill to scrap-based electric arc furnace (EAF) steelmaking.

At ArcelorMittal's Dofasco integrated steel mill in Hamilton, Ontario, the Canadian and Ontario governments have combined to provide C$900mn toward the decarbonization effort as that mill also converts to EAF steelmaking.

By Rye Druzin