Canada invests in Hamilton’s steel industry
The Government of Canada announced a federal investment of $400 million in ArcelorMittal Dofasco G.P., Canada’s largest producer of flat-rolled steel.
This investment will support a $1.765-billion project to convert the steel production process and phase out coal-fired steelmaking at its facilities in Hamilton, Ontario. This project will reduce greenhouse gas (GHG) emissions by up to three million tonnes per year by 2030.
This project is expected to create 2,500 construction jobs through subcontracting.
“We are supporting our steel workers and companies like ArcelorMittal Dofasco as they seize today’s opportunities in the low-carbon economy and they do their part in the fight against climate change. This investment will ensure that Canada’s largest producer of flat-rolled steel adopts innovative technologies, continues to provide economic opportunities for Canadian workers and contributes meaningfully toward our climate targets. This investment will create good jobs in communities like Hamilton and lead to clean Canadian-made products for the world for decades to come.” said François-Philippe Champagne, Minister of Innovation, Science and Industry.
Together with the Algoma Steel project announced on July 5, the two projects will reduce GHG emissions by up to six million tonnes per year. This is equivalent to taking over 1,800,000 passenger vehicles off the road, almost the number of passenger vehicles in Toronto, Montréal and Vancouver combined.
“The plans we have announced today represent a historic moment for ArcelorMittal in Canada and North America, marking the beginning of a new era of steelmaking in Hamilton that will result in a 60% drop in CO2 emissions within the next seven years. We are very pleased to be in partnership with the Government of Canada. As partners, we all recognize that it is vital to accelerate our reduction of carbon emissions and strengthen our climate action. Indeed, progress in the next decade is vital if the world is to reach net zero by 2050.” said Aditya Mittal, CEO, ArcelorMittal.