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South Australia places Gupta's Whyalla Steelworks in administration

OneSteel Manufacturing Pty Ltd has been placed into administration due to financial stability concerns, as announced by the South Australian Labor government.
KordaMentha has been appointed as the administrator to stabilize operations and explore potential buyers for the Whyalla Steelworks, which produces 75 percent of Australia's structural steel.
Premier Peter Malinauskas emphasized the importance of the steelworks, stating that without it, Australia would depend on imports amid a deteriorating strategic environment and a housing crisis.
The government plans to provide a robust support package to secure the steelworks' operations and prevent reliance on imports of steel.

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The West Australian

Billions for Whyalla rescue would be better spent in WA: CME

A local resources lobby group reckons the Federal Government’s multi-billion-dollar cash splash for South Australia’s imploding steel industry should be funnelled towards WA instead.

1 day ago·Australia

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Sydney Morning Herald

As it happened: Whyalla rejoices; Students suspended over alleged Nazi salutes

Keep up to date with today’s top stories with the national news blog.

1 day ago·Sydney, Australia

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News

Albo’s $2.4bn lifeline for embattled steelworks

The federal and South Australian governments have come to the rescue of the embattled Whyalla Steelworks.

With Whyalla steelworks forced into administration, Australia has crucial decisions to make on the future of its steel industry

Whyalla still has some key advantages when it comes to making steel that could make the plant an attractive asset to new prospective owners.

2 days ago

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The Canberra Times

Billions to secure future for struggling steelworks

A $2.4 billion government package will keep Whyalla's steelworks running and its debts paid while a new owner...

2 days ago·Canberra, Australia

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Bloomberg

Australia Bails Out Gupta’s Steelworks With $1.5 Billion Package

An Australian steelworks owned by tycoon Sanjeev Gupta will receive a A$2.4 billion ($1.5 billion) government bailout package, a day after it was forced into administration due to unpaid debts.

2 days ago·United States

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