In January 1991, Dofasco, the steel-making giant based in Hamilton, Ontario, made an announcement that shook the Northern Ontario community of Sault Ste. Marie to its core. Dofasco was going to write off its $740 million investment in Algoma Steel, Canada’s third largest steelmaker, leaving 6,000 workers at the mercy of its creditors. In other words, the steel mill and all those jobs seemed to be over.