Media Releases

Positive News for Arrium

Federal Member for Grey Rowan Ramsey said the confirmation by Arrium administrator Korda Mentha that a final two bidders for the steelworks have been selected is very positive news.

Mr Ramsey said he speaks to Industry Minister Arthur Sinondinos every few days regarding Arrium. “I can assure all interested parties that the Minister is focussed on the steelworks remaining an integral part of the Arrium portfolio and hopefully operating at a bigger, better and more efficient level in the future,” Mr Ramsey said. 

“The selection of the final two bidders means that now, both State and Federal Governments can negotiate individually with each to decide what type of assistance and assurances can be offered to the successful bidder.

“There has been a reference in the media regarding the Government leaning on bidders to ensure a long-term commitment to Whyalla and that has been my determination since day one. The Minister is fully supportive of this view and of finding the best way forward to ensure the steelworks remains a long-term and ongoing concern.

“Whilst securing a future for Arrium has been a protracted process, the doubling of iron-ore prices and significant rise in the price of steel since the steelworks went into administration, combined with the $120 Federal Government injection through both the beneficiation plant and the $70m Adelaide - Tarcoola railway line, has ensured Arrium is a much more attractive proposition for potential buyers.

“There has been a high level of uncertainty in Whyalla regarding the future of Arrium and Whyalla itself.

“People have been incredibly resolute throughout the process, but it has been a stressful time and the sooner a decision is made, the better.

“I would hope the administrator can soon release the names of the final two interested parties so people can put meat on the bones of the proposals and I look forward to a conclusion to this process and the opportunity for Whyalla to move forward with a positive economic outlook.”

 

Media Contact: Leonie Lloyd-Smith 08 86331744

March 8 2017

 

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