15 Buyers Circle Australia’s Whyalla Steelworks, Seemingly Assuring Its Future

The major steel manufacturing plant, which was bailed out by the federal and state governments, looks like it will sell to a private buyer.

Prime Minister Anthony Albanese (second right) and South Australian Premier Peter Malinauskas (second left) at the Whyalla steelworks in Whyalla, South Australia, on Feb. 19, 2025. AAP Image/Isabella Ward

A $2.4 billion (US$1.55 billion) federal and state government bailout and restructuring of the Whyalla Steelworks, announced in February, appears to have rescued the operation.

Administrators confirmed that a large group of potential investors was interested when the final expression of interest phase ended on Aug. 1.