The sale process for the Whyalla steelworks is officially underway, with a number of international steelmakers and low-emission steel companies showing early interest.
The process is being overseen by administrator KordaMentha and sale advisors 333 Capital, representing a major step towards a long-term future for the Whyalla facility.
“Australia’s steel industry is critical to the Australian economy and the community of Whyalla,” Federal Industry and Innovation Minister Tim Ayres said.
“Today’s opening of the sales process represents a critical step in securing the sustainable long-term future of the Whyalla steelworks – for Australia’s sovereign capability and for good jobs in the Whyalla community.”
The move follows the South Australian Government’s decision in February to place the facility into administration.
Select potential buyers have been granted access to a secure data room to conduct initial due diligence and prepare indicative offers.
The sale is being supported by $1.9 billion in combined Federal and State Government funding to help transition the operations into a commercially viable, low-emission iron and steel facility.
SA Premier Peter Malinauskas said Whyalla is now positioned to deliver sovereign steelmaking for the long term.
“The steelworks is putting on staff, and suppliers and contractors are in a much better position for the future,” he said.
The broader $2.4 billion assistance package is expected to support long-term employment and economic resilience across Whyalla and the Upper Spencer Gulf.
The steelworks has recently added 75 new workers across key operations and is currently recruiting for further roles in maintenance and mechanical services.
KordaMentha has also launched a program to recruit 27 new apprentices by 2026.
Meanwhile, more than $15 million has been distributed to 61 South Australian businesses through the Business Creditor Assistance Scheme.
Local operators like Avid Engineering have seen significant benefits, growing from five to 40 staff since receiving grant funding.
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