The deadline passed on Friday for the indicative bidding stage of the sale of Whyalla steelworks, which was put into administration earlier this year. KordaMentha put out a statement last Thursday saying that the duration was uncertain “and will be highly dependent on the nature of the indicative interest received and the extent of engagement…
The federal and South Australian governments have announced an additional $275 million in funding to support operations, workers and suppliers at the Whyalla Steelworks as the sales process continues. KordaMentha were appointed as administrators in February, with the state and federal governments announcing support totalling $2.4 billion for the site soon after. This was described…
BlueScope Steel has secured a pivotal advantage in the sale of Whyalla Steelworks, gaining a “right-of-last-offer” provision that gives it the opportunity to beat any final offers to acquire the facility, as The Australian Financial Review reports. The administrators have granted the ASX-listed company the ability to form a consortium with other interested parties and…
What were the five biggest stories of the week? Here’s what visitors to @AuManufacturing were reading. 5) DroneShield announces record-breaking order worth $61.6 million Counter-drone business DroneShield has announced three standalone follow-on contracts, worth a total of $61.6, representing “the biggest single order” in its history and topping its entire revenue of $57.5 million for 2024. According to…
The sale process for the Whyalla Steelworks in South Australia and associated mining operations — previously held by GFG Alliance — has formally opened, with “strong early interest from global steelmakers and consortia” according to the federal and South Australian governments. The steelworks were forced into administration by the SA government in February, with KordaMentha…
The Whyalla steelworks’ blast furnace will shut down for 36 hours starting Wednesday to allow for “urgent” maintenance work, as administrators warn the plant faces “severe challenges” and is in a “state of disrepair.” Energy and Mining Minister Tom Koutsantonis told ABC Radio Adelaide on Tuesday that the shutdown will enable repairs to the refractory…
What were the five biggest stories of the week? Here’s what visitors to @AuManufacturing were reading. 5) “Make it here, ship it everywhere”: federal government announces $5 million for Australian Made The federal government has announced $5 million in new funding, which it says will make the Australian Made logo “more recognisable across the globe” and support new…
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…
The South Australian Government’s Steel Task Force has been meeting secretly with KordaMentha since before Christmas, as a strategy to push the Whyalla steelworks into administration was formulated, according to documents released on Monday. KordaMentha was appointed as administrator of steelworks owner OneSteel Manufacturing – a GFG Alliance subsidiary – on Wednesday last week after…
The federal and South Australian governments have announced $2.4 billion in support for the Whyalla Steelworks, following the SA government’s move on Wednesday to put the site’s owner in administration. In a statement on Thursday, it was revealed that the assistance will come in “three distinct parts”, comprising $100 million in immediate on-the-ground support, $384…