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Alcoa said U.S. tariffs on Canadian aluminum cost it $69 million more than the prior quarter, although higher domestic prices for the metal helped offset the hit. 

Cleveland-Cliffs said two of its sites, one in Michigan and another in Minnesota, show “key indicators of rare-earth mineralization.”

Alcoa, the storied U.S. metals producer, is feeling the pinch of President Donald Trump’s tariffs and has been forced to pause work on all its growth projects underway in Canada.

Alcoa., the largest U.S. aluminum producer, said tariffs on imports from Canada cost it $115 million in the second quarter.

Volkswagen Group will spend C$69 million ($48.1 million) on a 9.9% stake in lithium miner Patriot Battery Metals to secure raw materials for electric vehicles.

Two mining giants are rerouting shipments and turning to trucks to deal with disruptions from a Canadian railway stoppage that threatens to undermine the industry’s operations.

Cleveland-Cliffs agreed to buy Canadian steelmaker Stelco Holdings for about $2.8 billion, in the company’s first major move after losing out in its bid for U.S. Steel Corp. last year.