The sale process for the Whyalla Steelworks and its associated mining operations has officially begun, following strong global interest from steelmakers aiming to invest in low-emissions production.
Led by administrators KordaMentha and sale advisors 333 Capital, the move is a key step toward securing the long-term future of steelmaking in Whyalla. It follows the State Government’s intervention in February, placing the steelworks into administration after years of underinvestment by previous owner GFG Alliance.
During a visit to Whyalla on Tuesday, Premier Peter Malinauskas revealed that at least 33 potential buyers have expressed interest, with most of them based overseas. Selected parties have now been granted access to a secure data room to begin due diligence.
The sale is backed by a $2.4 billion support package from the Australian and South Australian Governments, including $1.9 billion to help transform Whyalla into a modern, low-emissions “pit-to-port” steel facility.
South Australia’s Mining Minister Tom Koutsantonis said, “We’re looking for prestige, we’re looking for experience, and someone with a long-term vision for Whyalla — not just the highest bidder.”
While the site is being stabilised and expanded, a final sale isn’t expected until 2026.
