British industrialist Sanjeev Gupta, who is also the CEO of the international industrial and metals group Liberty House, has said in an interview with the Australian Financial Review that his company is joining with SIMEC shipping, mining and energy group, established by Gupta’s father, to make a joint bid for the assets of Australia-based mining and steelmaking company Arrium Limited.
Accordingly, Liberty would operate the Whyalla steelworks, while SIMEC is interested in Arrium’s iron ore mining and port operations.
Arrium entered into voluntary administration in April this year to identify the steps that can and should be taken to stabilize its Australian steel and mining businesses, with a review to restructuring.