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South Australia places Gupta's Whyalla Steelworks in administration

The South Australian government has placed the Whyalla Steelworks into administration, citing financial difficulties and unpaid debts.
GFG Alliance will no longer manage the steelworks, with KordaMentha appointed as administrator to stabilize its operations.
The federal and South Australian governments will jointly invest $2.4 billion to support the steelworks during the administration process.
Premier Peter Malinauskas stated that this decision is crucial for securing the long-term future of steelmaking in Australia.

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The West Australian

Billions for Whyalla rescue would be better spent in WA: CME

A local resources lobby group reckons the Federal Government’s multi-billion-dollar cash splash for South Australia’s imploding steel industry should be funnelled towards WA instead.

1 day ago·Australia

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Sydney Morning Herald

As it happened: Whyalla rejoices; Students suspended over alleged Nazi salutes

Keep up to date with today’s top stories with the national news blog.

1 day ago·Sydney, Australia

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News

Albo’s $2.4bn lifeline for embattled steelworks

The federal and South Australian governments have come to the rescue of the embattled Whyalla Steelworks.

With Whyalla steelworks forced into administration, Australia has crucial decisions to make on the future of its steel industry

Whyalla still has some key advantages when it comes to making steel that could make the plant an attractive asset to new prospective owners.

2 days ago

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The Canberra Times

Billions to secure future for struggling steelworks

A $2.4 billion government package will keep Whyalla's steelworks running and its debts paid while a new owner...

2 days ago·Canberra, Australia

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Bloomberg

Australia Bails Out Gupta’s Steelworks With $1.5 Billion Package

An Australian steelworks owned by tycoon Sanjeev Gupta will receive a A$2.4 billion ($1.5 billion) government bailout package, a day after it was forced into administration due to unpaid debts.

2 days ago·United States

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