23 July 2025

The Australian and South Australian Governments are backing in their commitment to Whyalla, with a further $275 million to continue operation of the Whyalla Steelworks as it transitions to new ownership with a plan to deliver long-term sovereign steelmaking.

The funding will enable Administrator KordaMentha to maintain safe operations, pay wages and suppliers, and undertake critical works to strengthen the steelworks positions as a viable long-term asset for a new owner.

The Whyalla Steelworks is one of South Australia’s most strategically important employers and a key part of Australia’s sovereign manufacturing capability. The additional funding follows the formal opening of the sale process on 24 June 2025, marking a crucial next step in securing a sustainable future for the steelworks and the region.

Since the company was placed into voluntary administration in February, the South Australian Government and the Australian Government have worked closely to keep the business running, support local jobs, and provide stability for the community.

This investment gives the Administrator and sales advisor 333 Capital time to progress negotiations and find the right long-term owner, while ensuring the people of Whyalla are backed every step of the way.

The governments welcome interest from all credible bidders and will engage, at the appropriate time, with any bidder who has a competitive plan for modern steelmaking in Whyalla. There is no preferred bidder.