Garcia said the company has made significant progress in its massive modernization plan. With the help of up to $420 million from the federal government, Algoma is working to become the "greenest" flat-rolled steel producer in Canada. The funding will help with Algoma Steel's proposed transformation to electric arc furnace (EAF) steelmaking. "We remain on pace to start EAF commissioning activities by calendar year-end, with steel production expected by the end of calendar Q1 2025," Garcia said.