The shortlist to take over the ailing Whyalla steelworks has narrowed, while a buyer is entering exclusive talks to purchase Australia’s only manganese smelter.
The troubled Whyalla steelworks and Australia’s only manganese smelter, both once owned by controversial businessman Sanjeev Gupta, are closer to locking in buyers.
Australian-owned enterprise M Resources and Indian company Jindal Steel were the final bidders on the shortlist for South Australia’s Whyalla, it was announced on Wednesday.
The two bidders were short-listed from an initial 70 expressions of interest as part of the multibillion-dollar process, although an Australian-led BlueScope Steel consortium still retains the right of last offer.
A $2.4 billion sovereign steel package was announced in 2025, after the SA government placed the steelworks into the hands of administrators because of the mounting debts of ultimate owner GFG Alliance.
