The sale process for the Whyalla Steelworks and associated mining operations has formally opened after strong early interest from global steelmakers and consortia looking to expand into low-emission steel production.
The independent process, led by administrator KordaMentha and sale advisors 333 Capital, marks a significant step towards securing a long-term, sustainable future for steelmaking in Whyalla.
Initial capital has been expended rectifying an extended period of underinvestment by GFG, with KordaMentha ensuring the plant is fully compliant and represents a clear investible proposition for potential purchasers.
A range of prospective buyers have already expressed interest in acquiring and transforming the integrated operations. From today, selected parties have been granted access to a secure data room — enabling initial due diligence and allowing parties to prepare non-binding indicative offers as part of a phased approach to the sale.
KordaMentha continues to stabilise and enhance operations, with an additional 75 new employees now added across core areas of the steelworks, including blast furnace operations, steelmaking and finishing.
Recruitment is ongoing for further new roles, including in mobile maintenance and diesel mechanics.
In addition to the five apprentices already onboarded this year, recruitment has commenced for 27 new apprentices across various disciplines to begin work with OneSteel Manufacturing from 2026.
As part of the $100 million assistance package announced by the Albanese and Malinauskas Governments, 61 South Australian businesses that were owed money by GFG have now received more than $15 million through the Business Creditor Assistance Scheme to support their continued operation.
Small businesses in Whyalla have also received much-needed support, with $570,000 in grants awarded to 57 businesses that had experienced a reduction in revenue due to the decline in activity at the steelworks.
Applications for these financial support programs will close Monday, 30 June 2025. Whyalla business owners are encouraged to check their eligibility, seek support from our dedicated team, and submit their applications before this time.
