BlueScope Steel, one of Australia’s leading steel producers, has announced that it has formed a multi-national consortium with Nippon Steel Corporation, JSW Steel Limited, and POSCO to explore the potential acquisition of the Whyalla Steelworks in South Australia, currently owned by Liberty Steel Group.
The consortium has submitted a non-binding, indicative expression of interest as part of the ongoing sale process. This move signals a major step toward expanding low-emission iron production capabilities in Australia, aligning with global decarbonization efforts.
A combined market force with a shared green vision
The four steelmakers collectively represent A$115 billion in market capitalization and around 130 million mt of steelmaking capacity. This strategic partnership aims to leverage their combined industry expertise to assess the future potential of Whyalla as a green steel hub.
BlueScope emphasized that it will use its deep understanding of the Australian steel landscape and Whyalla’s industrial assets to evaluate technical feasibility, capital requirements and long-term opportunities.
Future steps: Due diligence and government collaboration
If the consortium advances to the next phase, it plans to conduct joint due diligence, engage in discussions with the South Australian and Federal governments and engage with government funding support programs designed to strengthen Australia’s steel sector.