BlueScope Steel (ASX:BSL) is among the ten to 12 credible parties in the race to acquire the steelworks in Whyalla in South Australia, The Australian reported Wednesday.
KordaMentha partner Sebastian Hams, told the Whyalla One forum of workers and creditors that the firm, which is the administrator of the steelworks, aims to have it sold within the year and that it was in the process of assessing the OneSteel Manufacturing business, which includes mining and steelmaking divisions, before making a proposal for potential acquirers.
BlueScope was brought in by KordaMentha to give advice regarding the operation of the blast furnace, which went cold twice last year. The blast furnace was now operating as expected, Hams added.
Hams disclosed the employment of 63 new full-time staff, with 45 of those in the steelworks and 18 in mining.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.