U. S. Steel Canada, formerly Stelco, ...

U. S. Steel Canada, formerly Stelco, scraps plan to sell stake in Wabush Mines

There are 28 comments on the The Canadian Press story from Mar 4, 2008, titled U. S. Steel Canada, formerly Stelco, scraps plan to sell stake in Wabush Mines. In it, The Canadian Press reports that:

“Cliffs believes that terminating negotiations and remaining a partner in the Wabush Mines joint venture is the best course of action for all stakeholders at the current time”

- The company formerly known as Stelco, and its U.S. partner, have thwarted attempts by rival steelmaker ArcelorMittal Dofasco Inc. to take control of the Wabush Mines iron ore venture in Labrador and Quebec.

Hamilton-based U.S. Steel Canada Inc. and partner Cleveland Cliffs Inc., said Tuesday they had withdrawn from negotiations to sell their combined 71 per cent stake in the Wabush Mines company to ArcelorMittal Dofasco Inc., also of Hamilton.

The former Stelco, acquired last summer by United States Steel Corp. (NYSE:X), holds a 44.6 per cent stake in Wabush Mines, while Cleveland-Cliffs owns 26.8 per cent and ArcelorMittal Dofasco holds the remaining 28.6 per cent. Read more

Join the discussion below, or Read more at The Canadian Press.

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“Continually Updated from Net”

Since: Jan 07

A PBS place in an MTV world

#1 Mar 9, 2008
Iron ore takeover thwarted

John Valorzi 2008/03/05

The company formerly known as Stelco and

its U.S. partner have thwarted attempts by rival steel maker

ArcelorMittal Dofasco Inc. to take control of the Wabush Mines iron ore venture in

Labrador and Quebec...

http://www.thestar.com/article/309414

Since: Apr 07

Chihuahua, Mexico

#2 Mar 9, 2008
Canada : I don't believe that US Steel Canada and Clevland Cliffs were worried about a takeover of Wabush . They saw the error of their ways about selling when Vale increased the price of iron ore by 65% .

“Continually Updated from Net”

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A PBS place in an MTV world

#3 Mar 9, 2008
Sleibhin wrote:
Canada : I don't believe that US Steel Canada and Clevland Cliffs were worried about a takeover of Wabush . They saw the error of their ways about selling when Vale increased the price of iron ore by 65%.


Thanks as Brazil controlling Aggregate up here now

Brazil's Vale, Asian clients agree to 65 per cent price hike for ...

"The magnitude of the price increase for 2008 reflects the continuity of very tight conditions still prevailing in the global iron ore market," Vale said....

www.canadianbusiness.com/markets/headline_new...

Since: Apr 07

Hermosillo, Mexico

#4 Mar 10, 2008
Canada: What did you mean by :

"Thanks as Brazil controlling Aggregate up here now"

I thought only the Inco part of the Sudbury Basin was a Brazilian colony .

I think Steel & Clevland made right decision to retain interests in Wabush.

“Continually Updated from Net”

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A PBS place in an MTV world

#5 Mar 10, 2008
No Try

www.stopthequarry.ca

then there's their friends who control ALLmost ALL

Great Lakes Ports to Off Load & Load

then We See the Word " Vale " on the TV

apparently dropping Cash for www.tvo.org like PBS

Since: Apr 07

Hermosillo, Mexico

#6 Mar 10, 2008
Canada : looks like your governments are doing a fine job of allowing all YOUR Natural Resources to come under the control of foreign [?governments?] such as Brazil [ Vale- protected from takeover by Brazilian government ], Grupo Votorantim ; Norilsk [ protected from takeover - has strategic resources like Nickel - remember they acquired LionOre with their nickel sulphide leach patents ; invested in nickel company working in Quebec [? still part of Canada ?].

Funds to TVO - business write off - good for public relations . helps to smooth way for other items down the road .

Hope you are able to stop potential destruction by aggregate company . I do believe enough of near surface acquifers have been contaminated so they can't be used for drinking water sources . Don't know what depth is now but it has to be more than 15 m in areas close to Toronto .
siloviki

Canada

#7 Mar 10, 2008
Oh yeah some of us know it.

Imperial oil of Canada is merely the Canadian subsidiary of Exxon Mobil USA.

“Continually Updated from Net”

Since: Jan 07

A PBS place in an MTV world

#8 Mar 10, 2008
SATELLITE SALE

TheStar.com | comment |

Selling out sovereignty in orbit and the North

Michael Byers

Stephen Harper talks a fine game on Arctic sovereignty. He's told Canadians that we need to "use it or lose it." He's publicly berated U.S. Ambassador David Wilkins over the status of the Northwest Passage. He's even promised to build a deepwater dock on northern Baffin Island and ice-strengthened patrol vessels for the Canadian Navy.

It's mostly just words. The dock already exists. The contracts for the ships won't be signed until next year. As a result, it's been difficult to tell whether Harper's commitment to Arctic sovereignty is anything more than cynical electioneering.

We'll soon find out, thanks to Macdonald Dettwiler & Associates, Canada's leading aerospace company. MDA has just decided to sell its space program to Alliant Techsystems, a large U.S. arms manufacturer...

http://www.thestar.com/comment/article/296076

“Continually Updated from Net”

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A PBS place in an MTV world

#9 Mar 10, 2008
Challenging the 10,000 Republican "Democrats for a Day"

in Ohio's primary election in the 10th Congressional District last week, 10,000 registered Republicans switched their party affiliation on election day and became "Democrats for a Day" - allowing them to try to unseat the one Congressman who has been a national leader on every issue that reflects the core values of real Democrats: Rep. Dennis Kucinich.

10,000 Republicans in one Congressional District! In a race where his opposition was supported by Republican media, Republican contributors, Republican advisors, and a Republican political agenda.

In a special video message from Dennis

http://www.youtube.com/watch ...

he explains what happened, why, and how you can help to meet the challenge that will surely be mounted again to put that seat in the Republican "win column" in November.

They tried. They failed. But, they'll try again.

With your support, we stopped them last week. And with your continued help, we can demonstrate in the next 10 days that we intend to stop them in November - but only with your help.

Please contribute. http://kucinich.us/contribute.html

If issues like the war, not-for-profit health care, NAFTA, jobs, the environment, education, and the Constitution are important to you, please support the strongest, most consistent, most honorable voice in Congress who has the courage to stand with you and fight for what you believe: Dennis Kucinich.

Thank you,
The Re-Elect Congressman Kucinich Committee
Naomi Powell

Toronto, Canada

#11 Mar 11, 2008
Pioneer revolutionized Dofasco (Mar 11, 2008)-

The centrepiece of F. John McMulkin's career was a bulky, fire-spewing bucket that could pump out steel faster than anyone had ever seen.

http://www.thespec.com/article/337964

“Continually Updated from Net”

Since: Jan 07

A PBS place in an MTV world

#12 Mar 11, 2008
Another version

Dofasco prepares for legal fight to win control of iron ore venture

(Mar 5, 2008)- ArcelorMittal Dofasco is battling its partners for ownership of the Wabush iron ore joint venture in Labrador Newfoundland Canada...

http://www.thespec.com/article/334927

Since: Apr 07

Hermosillo, Mexico

#13 Mar 11, 2008
Yes ArcelorMittal has probably told AMDofasco get that bloody mine as we agreed to a 65% hike in price of iron ore with Vale .
Newfoundland Writes

Scarborough, Canada

#14 Mar 11, 2008
#

Labrador Iron Mines Holdings Limited - New Senior Management Appointments 15 min ago | Canada NewsWire

... experience, Mr. Duclos was previously General Manager for the Sept-Iles operations of the Iron Ore Company of Canada and, as such, was responsible for the overall operations of the 600Km Sept-Iles to Schefferville railroad and the Sept-Iles port ...

http://www.newswire.ca/en/releases/archive/Ma...

Related Topix: North America, Quebec, Canada, Duclos, QC, Canada, Sept-Iles, QC

“Continually Updated from Net”

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A PBS place in an MTV world

#15 Mar 12, 2008
Plains All American 4th-Qtr Earnings Jump

67 Percent, but Miss Wall Street Expectations

Posted by roboblogger on Thursday Feb 14

“Our fourth-quarter results were in line with expectations, coming in slightly above the low end of our guidance range”

Plains All American Pipeline LP said Wednesday fourth-quarter earnings surged 67 percent, but missed Wall Street forecasts, due in part to an increase in expenses...

http://www.topix.com/com/paa/2008/02/plains-a...

“Continually Updated from Net”

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A PBS place in an MTV world

#16 Mar 13, 2008
ArcelorMittal files lawsuit over Wabush mines sale 3 hrs ago | Globeinvestor.com

ArcelorMittal , the world's largest steelmaker, said on Thursday it started legal action to make U.S. Steel Canada and Cleveland-Cliffs respect their commitment to sell their stakes in Canada's Wabush Mines.

http://www.globeinvestor.com/servlet/story/RO...

Related Topix: North America, World News

“Continually Updated from Net”

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A PBS place in an MTV world

#17 Mar 13, 2008
ArcelorMittal Asks Courts to End Uncertainty With Respect to the Purchase of Wabush Mines 4 hrs ago | BusinessWire

LUXEMBOURG & HAMILTON, Ontario----Regulatory News: ArcelorMittal announced today that it has commenced a legal action in the Ontario Superior Court to require U.S. Steel Canada Inc.

http://www.businesswire.com/portal/site/topix...

Related Topix: Publishing, Hamilton, ON, News Corporation, Canada, Ontario, Cleveland Cliffs, North America, Mining, Metals, New York

“Continually Updated from Net”

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A PBS place in an MTV world

#18 Mar 13, 2008
ArcelorMittal begins legal action over Wabush iron ore mines sale 1 hr ago | Platts

US Steel Canada and Cleveland-Cliffs agreed to sell their interests in the Wabush Mines joint venture to ArcelorMittal Dofasco in accordance with the terms of an agreement made last August, ArcelorMittal.

http://www.platts.com/Metals/News/8588090.xml...

Related Topix: North America, World News

Since: Apr 07

Juárez, Mexico

#19 Mar 13, 2008
No longer of interest until the "war" between the German lyers and American lyers is settled and that could take a long, long time .

“Continually Updated from Net”

Since: Jan 07

A PBS place in an MTV world

#20 Mar 13, 2008
Arcelor Mittal Heading To Court 43 min ago | WTOV9.com

... and Arcelor Mittal is taking them to court. Arcelor Mittal said it had a deal with Cleveland-Cliffs and U.S. Steel Canada.

The company wants to buy out their interests in Canada's Wabush Mines, which all three companies co-own. Arcelor Mittal said ...

http://www.wtov9.com/news/15584381/detail.htm...

Related Topix: Cleveland Cliffs, Metals, Mining, North America, World News

“Continually Updated from Net”

Since: Jan 07

A PBS place in an MTV world

#21 Mar 14, 2008
Sleibhin wrote:
No longer of interest until the "war" between the German lyers and American lyers is settled and that could take a long, long time .
Thanks for the Heads Up & reply as Other patterns Emerging & a Comment at a Later date & time etc.

ArcelorMittal takes legal action to push buyout of Canada's Wabush MinesRead the original story

8 hrs ago | International Herald Tribune

BRUSSELS, Belgium : ArcelorMittal SA, the world's largest steel maker, took legal action Thursday against the other owners of Canada's Wabush Mines, saying U.S. Steel Canada Inc.

http://www.iht.com/articles/ap/2008/03/13/bus...

Related Topix: World News, Brussels, Belgium, Brabant, Belgium, Belgium, North America, Cleveland Cliffs, Mining, Metals, Business News

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