Joly asks Competition Bureau to probe Stelco deal after CEO comments

Joly said in her letter to the Competition Bureau that it “may wish to thoroughly examine” Cleveland-Cliffs’ conduct and whether it warrants enforcement action under the Competition Act.

The bureau had reviewed the takeover deal in 2024 and issued a no-action letter, but the minister is now prompting more scrutiny “in light of new evidence regarding the intent of the firm’s conduct.”

Cleveland-Cliffs did not immediately respond to a request for comment.

Stelco announced plans on Sept. 28 to lay off up to 500 workers at its Hamilton and Nanticoke, Ont., steel mills, citing U.S. tariffs, weak demand for Canadian steel and competition from imported steel products.

However, Cleveland-Cliffs and the union have more recently confirmed only 175 workers have been laid off so far, all in Hamilton.

The layoffs have fuelled an escalating dispute between Joly and Goncalves, with the minister accusing Cleveland-Cliffs of failing to honour its employment commitments to Canada when it bought Stelco.

Last week, Goncalves said he hopes to recall all workers before Dec. 25 if a plan to boost sales of Canadian-made steel to domestic customers succeeds.

Joly’s letter to the Competition Bureau comes as Ottawa’s 15-day deadline ends for Cleveland-Cliffs to address the layoffs.

If the company fails to comply with its employment commitments, Ottawa has said it could ask a court to order it to meet its commitments, pay penalties of up to $10,000 a day or force a sale of Stelco.

This report by The Canadian Press was first published Nov. 6, 2026.

— With files from Brett Bundale in Ottawa.

Ritika Dubey, The Canadian Press

by The Canadian Press

Joly asks Competition Bureau to probe Stelco deal after CEO comments

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