By John Quiggin, The University of Queensland The federal government’s announcement of a A$600 million rescue package for Glencore’s copper smelting and refining operations in Mount Isa and Townsville marks a definitive shift in Australia’s industry policy. The announcement follows the $2.4 billion rescue of the Whyalla steelworks, and a smaller assistance package for metals…
Following the European Commission’s announcement of plans to halve the quota of tariff-free steel imports and apply a 50 per cent tariff beyond that, the Australian Steel Institute (ASI) has urged against panic, saying there were “no surprises” in the news and that the plan has yet to be ratified. This week the EU proposed…
What were the five biggest stories of the week? Here’s what visitors to @AuManufacturing were reading. 5) New report estimates $220 million in economic activity, $4.8 billion in potential “pandemic preparedness benefit” generated through from Moderna factory Oxford Economics modelling commissioned by Moderna has predicted that the US biotech company’s Melbourne mRNA facility will add $220 million…
The Whyalla Steelworks, which is currently up for sale, is looking for approximately 60 skilled workers in “fitting, machinist, mechanical, instrumentation, electrical and fabricating trades” for an immediate start. According to a joint statement from federal industry minister Tim Ayres and South Australian premier Peter Malinauskas on Wednesday, the site has taken on “more than…
Guidelines are now available for the National Development Stream of the Green Iron Investment Fund, which represents half of available funding through the $1 billion Green Iron Investment Fund announced shortly after the collapse of the Whyalla Steelworks in February. The release gives those hoping to access the $500 million National Development Stream of the…
BlueScope has formed a massive international consortium with Japanese, Indian and Korean steelmakers to explore acquiring the troubled Whyalla Steelworks, the company announced on Wednesday. The consortium includes Nippon Steel Corporation, JSW Steel and POSCO, collectively representing $115 billion in market capitalisation and total steelmaking capacity of approximately 130 million tonnes. BlueScope will leverage its…
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…
What were the five biggest stories of the week? Here’s what visitors to @AuManufacturing were reading. 5) Factory to supply Western Harbour Tunnel Project opens at Emu Plains A precast concrete factory that will help in construction of the Western Harbour Tunnel project has opened at Western Sydney’s Emu Plains, ahead of the arrival of tunnel…
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…