Arrium

GFG Alliance signed a binding agreement to acquire Arrium, an integrated Australian mining and steel business, including iron ore operations, Whyalla Steelworks, and OneSteel businesses.

GFG Alliance completed the acquisition of Arrium, an Australian integrated mining, recycling, steel manufacturing and steel distribution business, on 31 August 2017.

GFG Alliance signed a binding agreement to acquire Arrium, the integrated Australian mining and steel business, out of administration, securing jobs of over 5,500 Australian workers and including iron ore mining, Whyalla Steelworks, OneSteel, and Australian Tube Mills.

A Korean consortium led by Newlake Alliance Management and JB Asset Management, supported by POSCO, was selected as the preferred bidder for Arrium, which runs the Whyalla steelworks in South Australia.

Adani contracted Arrium to supply 56,000 tonnes of steel worth $73 million over two-and-a-half years for the railway linking the proposed Carmichael coal mine to the Queensland coast.

BGC has been awarded a contract valued at over $720 million to provide full mining services to Arrium, a subsidiary of Onesteel, including drilling, blasting, loading, hauling, dumping and train load out.