BlueScope Consortium Eyes Whyalla Green Steel Plant

BlueScope Steel has formed a consortium with POSCO, Nippon Steel, and JSW Steel to submit a non-binding expression of interest in acquiring Whyalla Steelworks, previously operated by Sanjeev Gupta before entering administration due to unpaid bills and debt. The plant in South Australia is seen as a prime candidate for low-carbon steel production, aligning with global decarbonization trends. The consortium, whose combined market value is about A$115 billion, is still assessing its next steps and has not made a formal bid. The sales process for Whyalla began in June and has attracted significant international attention. Both the Australian and South Australian governments previously provided a A$1.9 billion rescue package to preserve jobs and the facility. The potential acquisition reflects the broader industry push to establish a presence in the emerging green steel sector.