BlueScope Steel, one of Australia’s leading steel producers, has announced the formation of a multi-national consortium to explore the potential acquisition of the Whyalla Steelworks in South Australia, currently owned by Liberty Steel Group.
The consortium includes Nippon Steel Corporation (Japan), JSW Steel Limited (India), and POSCO (South Korea)—together submitting a non-binding, indicative expression of interest as part of the ongoing sale process.
A Powerful Alliance with Green Ambitions
The four steelmakers collectively represent A$115 billion in market capitalization and approximately 130 million metric tons of steelmaking capacity. The consortium aims to transform Whyalla into a green steel hub, aligning with global decarbonization goals and the rising demand for low-emission iron and steel production.
BlueScope highlighted its deep experience in the Australian market and familiarity with Whyalla’s existing industrial infrastructure as critical to evaluating the project’s technical feasibility, capital needs, and long-term potential.
Next Steps: Due Diligence and Government Engagement
If the process advances, the consortium plans to:
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Conduct joint due diligence
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Engage with the South Australian and Federal governments
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Pursue government funding opportunities tied to strengthening Australia’s steel sector and accelerating its transition to cleaner production technologies
This potential acquisition represents a major step in reshaping Australia’s steelmaking future, centered around sustainability and global collaboration.
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