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    Federal government’s $400M for greener steel in Hamilton is about industrial policy

    Finance Minister Chrystia Freeland announcing $400 million for ArcelorMittal Dofasco from the Strategic Innovation Fund’s Net Zero Accelerator at the company’s plant in Hamilton, Ont. in July 2021.
    Finance Minister Chrystia Freeland announcing $400 million for ArcelorMittal Dofasco from the Strategic Innovation Fund’s Net Zero Accelerator at the company’s plant in Hamilton, Ont. in July 2021.
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    The federal government is pledging $400 million for ArcelorMittal Dofasco, a Canadian subsidiary of the Luxembourg-based commodity giant, to convert its Hamilton, Ont. plant away from using coal to produce steel. The $1.76-billion project will install new equipment furnaces by 2028 initially using natural gas and eventually hydrogen, which the firm estimates will reduce its carbon-dioxide emissions by three million tonnes, or 60 per cent. 

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