Press release
Algoma Steel Provides Community Update Regarding Spill
SAULT STE. MARIE, Ontario, June 17, 2022 (GLOBE NEWSWIRE) -- Today Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), provided the
About this update from Algoma Steel Group Inc.
[{"type":"text","content":"SAULT STE. MARIE, Ontario, June 17, 2022 (GLOBE NEWSWIRE) -- Today Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), provided the following update to the community and neighbouring stakeholders regarding the June 9th accidental release of lubricant oil into the St. Mary’s River. The Company continues to actively work with authorities to mitigate any possible impact to the environment. We are maintaining an open dialogue with our stakeholders and have extended an offer to the Village of Echo Bay to cover the cost of purchasing and transporting water to their community on an interim basis. While the sheen has dissipated and is no longer visible, we continue to conduct sampling and monitoring on the waterway. Our technical assessment of the incident continues as we work to identify and implement the appropriate controls to prevent such an occurrence from happening again. Working with the assistance of expert technical advisors, we have been able to ascertain that the estimated amount of oil that was ultimately discharged into the river from our water treatment plant is in the range of 1000 liters (263 gallons) to 1250 liters (330 gallons), with the amount not likely exceeding 1,250 liters. This information along with the analysis methodology have been provided to the Ministry of Environment, Conservation, and Parks, whom we continue to work closely with. Algoma Steel Chief Executive Officer Michael Garcia commented, “This event certainly did not live up to the high standard we set for ourselves. I assure you the entire Algoma team has felt the weight of this incident’s impact on our community. We are focused on mitigating any possible impact and are grateful for the collaboration with all parties involved as we work together to do what needs to be done to protect the environment.” Cautionary Statement Regarding Forward-Looking Statements This news release contains “forward-looking information” under applicable Canadian securities legislation and “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 (collectively, “forward-looking statements”), including statements regarding Algoma’s continued collaboration with authorities to mitigate any possible impact to the environment, offers to assist the Village of Echo Bay with certain costs and logistics re...