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BRIEF-Essar Steel Algoma Settles Contract Dispute

Published 2016-04-28, 10:09 a/m
© Reuters.  BRIEF-Essar Steel Algoma Settles Contract Dispute

April 28 (Reuters) - Essar Steel Algoma Inc ESSRGE.UL :
* On Monday, April 25, 2016 , Essar Steel algoma settled its
contract dispute with cliffs natural resources
* Pursuant to settlement, parties have agreed to re-instate
contract
* Cliffs will resume supply of iron ore pellets to essar
steel algoma for a portion of company's remaining 2016
requirements
* Essar Steel Algoma Inc says settlement, which resolves all
claims between parties, is subject to documentation and
requisite court approval
* Cliffs will return to contract's existing terms in 2017
and beyond

Source text for Eikon: ID:nPn85c1GGa
Further company coverage: ESSRGE.UL

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