Wednesday 27 May 2026

Today, the Australian and South Australian Governments announced that the sale of the Whyalla Steelworks has progressed to a shortlist of two bidders, as the process enters its final stages.

This process follows the South Australian Government’s decision to place the former owner into administration last year, a necessary step to secure the long-term future of the Steelworks.

These actions have restored confidence in Whyalla and attracted genuine international competition for a new owner committed to maintaining sovereign steelmaking capability in South Australia.

Together, the Australian and South Australian Governments are investing up to $1.9 billion in partnership with a new owner to transform the Steelworks into a modern, low-emissions facility.

The shortlisted bidders share this vision for the Steelworks’ transition and have been invited to submit final funding proposals.

The sale has remained highly competitive, with more than 70 parties expressing initial interest. Five domestic and international industrial groups progressed to the binding bid stage earlier this year, with two now selected to advance.

The governments continue to provide joint funding of administration costs at the facility, ensuring administrators can maintain safe operations, pay wages and suppliers and undertake critical works to improve the Steelworks’ prospects of a sale to a new owner.

Both governments will continue to back workers and the community as the steelworks transitions to modern steelmaking under new ownership.