Essar had moved for an injunction to cause Cliffs to continue to deliver pellets to Essar, pending the resolution of a pricing dispute between the parties, which is the subject of an arbitration proceeding. The injunction is in effect until September 30 2010 or until the completion of the arbitration unless either party moves to extend it.
Essar Steel Algoma Inc. is based in Sault Ste. Marie, Ontario. As a fully integrated steel producer, the Company derives its revenues primarily from the manufacture and sale of hot and cold rolled steel products including sheet and plate.Essar Steel Algoma injunction against Cleveland-Cliffs successful
Ontario, Canada-based Essar Steel Algoma Thursday announced it was successful in its application for an injunction against its iron ore pellet supplier Cleveland-Cliffs. On May 31, 2010, Essar filed an application with the Ontario Superior Court of Justice in respect of a dispute with the Cleveland-Cliffs Iron Company and certain of its affiliates. The dispute related to the pricing and supply of iron ore pellets, which has been interrupted as a result of the pricing dispute.
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