Dofasco

Government of Canada Supports Emerging Clean Technologies at GLOBE Forum 2022

Retrieved on: 
Wednesday, March 30, 2022
Risk, University, Organization, Natural gas, Government of Canada, Investment, Climate change, CO2, EIP, Mining, Municipal government in Canada, Research, Program, Government, Forestry, Clean technology, Science, Natural Resources, Sustainable development, Biomass, Natural Resources Canada, Technology, Sustainable Development Technology Canada, GLOBE, OGI, Dofasco, CGP, Water, CH4, Renewable energy, Oil, BC

VANCOUVER, BC, March 30, 2022 /CNW/ -The Government of Canada is making investments to enhance Canada's competitive advantage, diversify market opportunities, create good middle-class jobs and achieve our emissions reduction targets.

Key Points: 
  • VANCOUVER, BC, March 30, 2022 /CNW/ -The Government of Canada is making investments to enhance Canada's competitive advantage, diversify market opportunities, create good middle-class jobs and achieve our emissions reduction targets.
  • Today at GLOBE Forum 2022, the Honourable Jonathan Wilkinson, Minister of Natural Resources, announced a combined investment of over $12 million to seven organizations that are advancing emerging clean technologies to grow our economy and help Canada meet its environmental targets.
  • "The Government of Canada is pleased to invest in projects that position Canada's natural resource sectors as leaders on the global stage.
  • We are privileged to work with NRCan, the Natural Gas Innovation Fund and Sustainable Development Technology Canada on this project."

ArcelorMittal decarbonisation project in Hamilton, Canada confirmed with the announcement of a CAD$500M investment by the Government of Ontario

Retrieved on: 
Tuesday, February 15, 2022
ArcelorMittal, Health, CO2, Electric arc furnace, Global warming potential, Government of Ontario, Company, Dofasco, Carbon, Achievement, Economic development, CAD, Safety, Environment, Technology, MTS, Municipal government in Canada, US, Steel, DRI, Maintenance, Benchmarking, Iron, Government, Heart, Engineering, Society, Investment, Ministry of Economic Development, Job Creation and Trade, EAF, Direct reduced iron, Natural gas, Coal, Risk management, Cryptocurrency, Renewable energy, Construction, Iron ore

The project is scheduled to be complete by 2028, although the Company is looking for opportunities to accelerate the project timelines.

Key Points: 
  • The project is scheduled to be complete by 2028, although the Company is looking for opportunities to accelerate the project timelines.
  • The investment was contingent on support from the governments of Canada and Ontario.
  • In July 2021 the Government of Canada announced it will invest CAD$400 million in the project and today, the Government of Ontario announced it will invest CAD$500 million in the project.
  • Highlighting the impact of the announcement, ArcelorMittal Dofasco President and CEO Ron Bedard said:
    This is the most significant construction project ever undertaken at Dofasco.

ArcelorMittal and the Government of Canada announce investment of CAD$1.765 billion in decarbonization technologies in Canada

Retrieved on: 
Friday, July 30, 2021
Companies, ArcelorMittal, CAC 40, IBEX 35, Dofasco, Arcelor, Steelmaking

The investment is contingent on support from the governments of Canada and Ontario.

Key Points: 
  • The investment is contingent on support from the governments of Canada and Ontario.
  • Today the Government of Canada announced it will invest CAD$400 million in the project.
  • This $400 million investment by our government in reducing greenhouse gas emissions at ArcelorMittal Dofasco will transform Hamilton.
  • Highlighting the transformative impact of the announcement, ArcelorMittal Dofasco President and CEO Ron Bedard said:
    The Government of Canadas investment accelerates the realization of low carbon steelmaking in Canada.

ArcelorMittal unlocks value through separation of integrated US assets and repositions its footprint in North America

Retrieved on: 
Monday, September 28, 2020
Companies, Economy, ArcelorMittal, CAC 40, IBEX 35, Financial economics, Arcelor, Valuation, Finance, Dofasco

Under the terms of the agreement, ArcelorMittal expects to receive an aggregate equity value consideration of $1.4 billion upon closing of the Transaction.

Key Points: 
  • Under the terms of the agreement, ArcelorMittal expects to receive an aggregate equity value consideration of $1.4 billion upon closing of the Transaction.
  • Favourable valuation achieved for ArcelorMittal USA due to the high synergistic potential of the combined company.
  • The Transaction valuation for ArcelorMittal USA equates to an enterprise value multiple of approximately 6x through-the-cycle EBITDA4.
  • These assets represent a strong footprint in North America with Dofasco and ArcelorMittal Mexico amongst the lowest cost producers in the region.