Two bidders have been short-listed to take over the troubled Whyalla steelworks in a multibillion-dollar sales process, although an Australian-led consortium still retains the right of last offer.
South Australian Premier Peter Malinauskas announced on Wednesday that Australian-owned enterprise M Resources and Indian company Jindal Steel were the final bidders on the shortlist, from an initial 70 expressions of interest.
A $2.4 billion sovereign steel package was announced in 2025, after the state government placed the steelworks into the hands of administrators because of the mounting debts of ultimate owner GFG Alliance.
The two ''high quality'' bidders were well-resourced and well-positioned to deliver a long-term, modern, low-emission sovereign steelmaking business, the premier said, adding that a BlueScope Steel-led consortium retains the right of final offer.
