Australia-based metal recycler Sims Limited has announced that it has signed a non-binding memorandum of understanding (MoU) with domestic steelmaker Equest Steel, operating as Alter Steel, to establish a strategic scrap supply and services partnership. The collaboration will support Alter Steel’s planned electric arc furnace (EAF) mill project in Pinkenba, Queensland, set to begin operations in 2028.
Scrap supply and infrastructure support
Under the agreement, Sims will supply up to 550,000 mt of scrap per year, manage Alter Steel’s scrap inventory, and provide them port and rail access, which is located just one kilometer from Alter’s future steel plant site. The MoU lays the groundwork for a formal, binding long-term agreement.
$750 million investment to boost local steel production
In response to growing demands for emissions reduction and sustainable steel manufacturing, Alter Steel is investing over $750 million in the new mill, which will produce 500,000 mt of reinforcing steel annually using local scrap. The facility aims to reduce Australia’s reliance on imported steel and supply lower-carbon steel for Queensland and national infrastructure projects.
A major step toward sustainable steel in Australia
This partnership highlights Australia’s shift toward circular economy principles and more sustainable steel production through the use of recycled materials and efficient EAF technology.
