Overview

• BlueScope Steel joined with Japan’s Nippon Steel, South Korea’s POSCO and India’s JSW Steel to form the bidding consortium
• The group lodged a non-binding expression of interest under the sale process that formally opened in June
• Federal and South Australian governments provided a A$2.4 billion rescue package in February to stabilize Whyalla and protect jobs
• The consortium’s combined A$115 billion market capitalisation underlines its capacity to finance acquisition and modernization
• Bidders aim to convert Whyalla into a low-emissions iron production hub for domestic and export markets