BlueScope is eyeing the magnetite ore resource near the Whyalla steelworks, currently being sold by administrators KordaMentha. Chief executive Mark Vassella highlighted the ore’s potential role in future decarbonisation of steelmaking as a key reason for their interest, noting, “There’s more than the steelworks at Whyalla.” BlueScope is an Australian steel company that manufactures and distributes steel products globally. The company provides steel solutions for buildings, infrastructure, and various industries.
Vassella emphasized that BlueScope would maintain financial discipline throughout the bidding process. BlueScope is leading a consortium that includes Nippon Steel of Japan, Posco from South Korea, and JSW of India. “There’s a long way to go on this. We will absolutely adhere to our financial framework,” he stated.
Chairwoman Jane McAloon stressed the importance of affordable domestic gas for Australia’s decarbonisation efforts. She warned that without cheaper gas, significant portions of the Australian manufacturing sector could face closure. “It is impossible to decarbonise without using gas as a transition fuel,” she said at the annual meeting, responding to a shareholder’s question.
Vassella cautioned against the closure of Australian manufacturing plants due to high energy costs, which would lead to increased reliance on imports. He has advocated for the development of more gas fields in Australia as an interim measure to lower emissions in steelmaking, rather than importing goods made offshore.
Post Views: 48
