According to a report from a court-appointed monitor, US Steel
Canada is expected to lose more than $260 million by the third quarter of 2015.
US Steel is currently looking for options for financing its Canadian, which is operating on a debtor-in-possession (DIP) line of credit.
Court-appointed monitor Alex Morrison told local media that US Steel
Canada “will spend $92.3 million more than it earns in
Canada, chiefly to stock up on raw materials before the St. Lawrence Seaway freezes over for the winter.”
Recent news also reported that US Steel
Canada is seeking to replace its current US Steel-appointed DIP financier with Toronto-based Brookfield Capital Partners Limited.