Yes, Mr. Speaker, I am pleased to advise that Algoma Steel has successfully been able to restructure and obtain its financing from the private sector.
All the terms and conditions of the loan guarantee have been fulfilled. The guarantee has in fact been discharged and appropriate fees collected.
If I may, I will take the opportunity to congratulate the management, the union, the workers, and most of all, the people of Sault Ste. Marie who working together with the federal government have been able to preserve thousands of jobs and help ensure the creation of wealth in northern Ontario. To all those involved, and in particular my colleague from Sault Ste. Marie, well done.