GFG Alliance, the parent company of international industrial and metals group Liberty House, has announced that through its energy division, SIMEC Energy, it has reached an agreement with Australian energy company ZEN Energy to establish a strategic partnership and acquire a majority stake in ZEN.
GFG Alliance stated that SIMEC ZEN Energy, the new name for the joint venture, will work to improve energy security and reduce the cost of power for GFG Alliance and other businesses in Australia including SIMEC Mining Australia, SIMEC Infrastructure Australia and Liberty OneSteel (formerly Arrium). Accordingly, ZEN Energy will partner with SIMEC to deliver cheaper, more reliable and environmentally sustainable energy for SIMEC’s mining operations in South Australia and Liberty OneSteel’s operations in South Australia, Victoria, New South Wales, Queensland, and Western Australia.