May 27, 2026 – 11.20amCoal magnate Matt Latimore’s M Resources and India’s third-largest steelmaker Jindal Steel have been named as the two final bidders for the Whyalla steelworks and nearby iron ore mines, although former frontrunner BlueScope Steel could still enter the fray.A consortium led by BlueScope remains in talks with the administrator KordaMentha and still holds a right of last offer, enabling it to match any final bid by either of the two shortlisted parties. However, the vast capital cost of an overhaul has cooled its interest in the operation.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Whyalla steelworks sale down to two bidders, as BlueScope lurks
BlueScope Steel can still use its rights to match a final bid, but Matt Latimore’s M Resources and India’s Jindal Steel are the frontrunners for the steelworks.
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