The Whyalla steelworks was losing $1.5 million per day before being forced into administration, burning through nearly $320 million in seven months, administrators KordaMentha revealed at a creditors meeting on Monday. The administrators outlined total debts exceeding $1.34 billion, including $189 million in outstanding employee entitlements and $40.2 million owed to the South Australian government…
GFG Alliance executive chairman Sanjeev Gupta said on Sunday that the Whyalla steelworks is generating between $13 million and $14 million in weekly turnover, with hopes of reaching break-even by mid-year. The announcement followed last week’s agreement with global creditors, ending a four-year process triggered by the collapse of GFG’s former financier, Greensill. The steelworks,…
BlueScope reported a net profit after tax of $179.1 million for the first half of FY2025, representing a $260.2 million decrease from the same period last year, according to a statement released on Monday. The Australian steel manufacturer delivered an underlying EBIT of $308.8 million, with Managing Director and CEO Mark Vassella describing it as…
Steelmaker BlueScope and iron ore miners, BHP and Rio Tinto have selected Kwinana Industrial Area, south of Perth, to host an electric smelting furnace pilot plant, which aims to test and optimise lower-carbon emissions molten iron from Pilbara iron ore using direct reduced iron (DRI)-ESF technology. Rio said the trio assessed a number of locations…
The Heavy Industry Low-Carbon Transition Co-operative Research Centre (HILT CRC) has launched a flagship three-year project on energy infrastructure to help guide heavy industry decarbonisation. The project will provide clear, data-driven estimates of energy costs to inform government policy and enable heavy industry to plan its decarbonisation pathway. ‘Unlocking investment in energy infrastructure for net-zero…
Australia’s largest steel maker Bluescope is trying to have a $57.5 million fine for carrying out price-fixing attempts with flat steel distributors thrown out.
The Albanese government has unveiled a new Green Metals Advisory Panel to help the country’s metal manufacturers grow and decarbonise.
By Charlie Huang, RMIT University Australia is at the forefront of efforts to turn steelmaking green. Earlier this year Australian iron ore producers Rio Tinto teamed up with Australian steelmaker BlueScope to develop “near-zero emission-intensity” pathways for making steel from Pilbara iron ore. Renewable electricity and hydrogen would replace coking coal. Iron ore miner Fortescue…
IDT Australia secures Sanofi contract Pharmaceutical development company IDT Australia has secured a follow on contract with pharma giant Sanofi Australia for preclinical formulation, development and manufacture of Sanofi’s messenger RNA (mRNA). The contract, worth up to $4 million, continues the company’s advancement of mRNA-based vaccine formulation, development and manufacture at IDT’s aseptic sterile injectables…
Orrcon Steel has officially opened its new Unanderra mill, which will serve demand in sectors including infrastructure and renewables. According to parent company Bluescope, $70 million was invested in the new mill, which is the most advanced factory of its kind in Australia, “This new pipe and tube mill gives new meaning to this historic…
