By Rhiannon Hoyle
Australia's BlueScope Steel said Monday it has teamed up with a group of Asian steelmakers to submit a nonbinding expression of interest for the Whyalla Steelworks, which entered bankruptcy earlier this year.
Melbourne-based BlueScope said has entered into a collaboration agreement with Nippon Steel, JSW Steel and Posco to participate in the sale process for the steelworks in South Australia state. The indicative expression of interest outlines possible options for the Whyalla assets, the company said.
"BlueScope will leverage its detailed knowledge of the Australian steel industry and Whyalla assets as the consortium assesses potential options, opportunity and capital requirements," it said.
BlueScope said the consortium views Whyalla as a prospective location for lower-emissions iron manufacturing, which could play a key role in reducing global steel-industry pollution.
There is no obligation under the agreement for any of the consortium members to make an offer to acquire the steelworks, BlueScope said.
The steelworks, which had been run by British metals magnate Sanjeev Gupta, was placed into administration by South Australia's state government in February because of unpaid bills.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
August 03, 2025 18:59 ET (22:59 GMT)
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