Whyalla Steelworks Sale Nears With Global Buyer Interest

The Whyalla Steelworks in South Australia, currently under administration following financial instability under GFG Alliance, has attracted strong international interest as it enters a formal sale process led by administrator KordaMentha and advisers 333 Capital. The Australian and South Australian governments have committed $1.9 billion toward transforming the facility into a commercially viable, low-emissions 'pit to port' steelmaking operation, part of a broader $2.4 billion support package aimed at securing long-term jobs and economic resilience for the Whyalla community. There are at least 33 interested parties, including major global steelmakers from India, Japan, and Korea, with some notable names like BlueScope Steel and South Korea's POSCO linked to the potential acquisition. Recruitment efforts have increased workforce numbers by 75 employees and continue to focus on critical operational roles, signaling operational stabilization. Government officials emphasize the sale process as a crucial milestone for Australia's sovereign steelmaking capability and the region's economic future, with expectations for a sale to conclude in the second half of 2026. The interest in low-emission steel production reflects a broader industry trend toward sustainability and positions Whyalla as a key player in the emerging green steel market.