New SIF funding for steel producer ArcelorMittal to support 6,400 Canadian jobs

In response to American tariffs on Canadian steel, economic development minister Navdeep Bains announced a $49.9 million Strategic Innovation Fund (SIF) investment to support an undertaking by steel company ArcelorMittal to modernize its facilities. The $205 million project aims to improve efficiency, sustainability, and productivity across its operations. With this investment, ArcelorMittal expects to reduce fuel consumption and lower greenhouse gas emissions by up to 100,000 tonnes per year. The funding will support 4,700 jobs at its facilities in Hamilton, Ontario, where ArcelorMittal is the city’s largest private sector employer, as well as 1,700 jobs in Contrecœur, Quebec.