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BlueScope Leads Consortium to Participate in Whyalla Steelworks Sale Process
08/04/2025 - BlueScope announced that it has entered into a collaboration agreement with Nippon Steel Corp., JSW Steel Ltd. and POSCO to form a consortium to explore the possible options for the Whyalla Steelworks assets in Australia.
The consortium intends to assess all potential options, opportunities and capital requirements using BlueScope’s knowledge of the Australian steel industry and Whyalla’s assets. They said Whyalla is a prospective location for future production of green iron in Australia for the domestic and export markets.
Currently, the consortium has submitted a nonbinding expression of interest for the Whyalla assets. Should it progress to the next phase of the sale process, they will jointly conduct due diligence. They will also work with the South Australian and federal governments regarding the announced funding support to continue Whyalla’s operations as it transitions to new ownership.
Any decision to make an offer is subject to due diligence and the consortium members’ return on investment hurdles. There is no obligation for the consortium to make an offer at this time.
Currently, the consortium has submitted a nonbinding expression of interest for the Whyalla assets. Should it progress to the next phase of the sale process, they will jointly conduct due diligence. They will also work with the South Australian and federal governments regarding the announced funding support to continue Whyalla’s operations as it transitions to new ownership.
Any decision to make an offer is subject to due diligence and the consortium members’ return on investment hurdles. There is no obligation for the consortium to make an offer at this time.
