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29.09.25 - 15:03
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Algoma Steel Secures C$500 Million Liquidity Support from Governments of Canada and Ontario (GlobeNewswire EN)
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SAULT STE. MARIE, Ontario, Sept. 29, 2025 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (“Algoma” or the “Company”) (NASDAQ: ASTL; TSX: ASTL) today announced the execution of binding term sheets to secure C$500 million in liquidity support, comprising C$400 million loan facilities from the Government of Canada under the Large Enterprise Tariff Loan facility and C$100 million loan facilities from the Province of Ontario (collectively, the “Facilities”). The Facilities provide essential financial flexibility amid prolonged trade uncertainty and position Algoma to advance its ongoing business transformation....
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11.08.25 - 02:42
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Canadian Steel CEO Warns: U.S. Tariffs Could Lock Us Out Completely (ZeroHedge)
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Canadian Steel CEO Warns: U.S. Tariffs Could Lock Us Out Completely
Canadian steelmakers may need to overhaul their operations as steep U.S. tariffs threaten to block access to their largest export market, says Algoma Steel Inc. chief executive Michael Garcia. He made the comments to Financial Post last week.
“We'll have little to no business in the U.S. if the 50 per cent tariff continues,” Garcia told the Financial Post's Larysa Harapyn. “Once the full effect of (the tariffs) plays out, it will effectively lock out Algoma and frankly other Canadian steel producers from the U.S. market.”
Algoma, based in Sault Ste. Marie, Ont., is Canada's only plate steel producer. While it still has contractual obligations in the United States, Garcia said those will wind down within the year if the tariff remains. “There really are no practical foreign markets for Canadian steel other than the U.S. market,” he said.
The company has asked Ottawa for a $500-million enterprise tariff loan fac...
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18.07.25 - 17:03
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Algoma Steel Group Inc. Announces Filing of Base Shelf Prospectus (GlobeNewswire EN)
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SAULT STE. MARIE, Ontario, July 18, 2025 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that it has filed a base shelf prospectus dated July 18, 2025 (the “Base Shelf Prospectus”) with the Ontario Securities Commission, relying on the “well-known seasoned issuer” exemption, and a corresponding shelf registration statement on Form F-10 (the “Registration Statement”) with the United States Securities and Exchange Commission (the “SEC”). These filings will allow the Company, if it chooses, to make offerings of common shares, preferred shares, debt securities, subscription receipts, units and warrants (collectively, the “Securities”) of the Company, or any combination thereof, in all of the provinces and territories of Canada (other than Quebec) and in the United States for a period of 25 months....
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15.07.25 - 23:33
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Algoma Steel Announces Conference Call and Provides Guidance for the Second Quarter 2025 (GlobeNewswire EN)
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SAULT STE. MARIE, Ontario, July 15, 2025 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its 2025 second quarter financial results after the market closes on Tuesday, July 29, 2025. A webcast and conference call will be held on Wednesday, July 30, 2025 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session. The Company also provided guidance for its quarter ended June 30, 2025. Unless otherwise specified, all amounts are in Canadian Dollars....
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10.07.25 - 13:33
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Algoma Steel Announces First Arc and First Steel Production from its New Electric Arc Furnace Unit One (GlobeNewswire EN)
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SAULT STE. MARIE, Ontario, July 10, 2025 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that it has achieved its first steel production at Unit One of its new, state-of-the-art electric arc furnace (“EAF”) project. The milestone follows over ten days of successful electric arc testing and tuning, including individual and tandem tests of all nine Q-One transformer modules....
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04.06.25 - 23:33
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Algoma Steel Releases 2024 Sustainability Report (GlobeNewswire EN)
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SAULT STE. MARIE, Ontario, June 04, 2025 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced the release of its 2024 Sustainability Report (the “Report”), covering a nine-month transition period from April 1 to December 31, 2024. The reporting period aligns with our 2024 financial reporting period, which now corresponds to a calendar year to reflect a consistent approach to our industry peer reporting....
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