The sale process for Australia’s Whyalla Steelworks has entered its final stage after the South Australian and federal governments shortlisted two remaining bidders for the major steelmaking asset. Australian mining company M Resources and India’s Jindal Steel have emerged as the final contenders to acquire and modernize the steelworks.
The Whyalla Steelworks was placed into administration in early 2025 following financial difficulties under former owner GFG Alliance. Governments have since committed up to AUD 1.9 billion in support to help transition the facility into a modern, low-emission steelmaking operation.Officials stated that the shortlisted bidders are expected to submit final funding and redevelopment proposals focused on sustainable steel production, including direct reduced iron (DRI) and electric arc furnace (EAF) technologies. Analysts noted that replacing the aging blast furnace will be critical for the long-term future of the steelworks and regional employment.
Industry experts believe the Whyalla project is strategically important for Australia’s sovereign steelmaking capability and green steel ambitions. The final ownership decision is expected later this year as administrators continue evaluating modernization and investment plans for the facility.
