Maintaining our focus on costs
To meet our Action 2020 objectives, we need to drive down costs across the business. In the US, we reached a new iron ore contract so that our future raw material costs are better aligned with pricing conditions in the steel market, and we continue to explore new technologies and processes to keep costs low in our sites.
Improving our energy efficiency is an important part of both cost reduction and our work to create a lower-carbon future, and we made investments in Burns Harbor and Dofasco which, on completion, will substantially reduce our energy usage. In total across the NAFTA segment, we completed 33 energy projects that will provide annual savings of over US$26 million and 230,000 tonnes of CO2.