{"id":1741,"date":"2016-08-14T22:44:38","date_gmt":"2016-08-14T22:44:38","guid":{"rendered":"http:\/\/yinghuiinternational.com\/?p=1741"},"modified":"2016-08-14T22:45:10","modified_gmt":"2016-08-14T22:45:10","slug":"whyalla-tense-as-arrium-future-remains-uncertain","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2016\/08\/14\/whyalla-tense-as-arrium-future-remains-uncertain\/","title":{"rendered":"Whyalla tense as Arrium future remains uncertain"},"content":{"rendered":"
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The uncertain future of the Whyalla\u2019s main employer, the Arrium steelworks, continues to trouble the city, with a significant capital injection needed to make the plant competitive again.<\/p>\n

The ABC\u2019s 7.30<\/em> reported<\/a> last night that, according to unnamed business leaders<\/a>, retail spending was down as much as 50 per cent.<\/p>\n

Thousands of workers are uncertain if the plant will remain open. One steelworks employee<\/a>, Steve Smith, told 7.30<\/em> that employees were told that if they did not accept a 10 per cent pay cut, the site would be shut by Christmas.<\/p>\n

Mark Mentha of KordaMentha, the administrators of the Arrium group since April, said a $300 million investment<\/a> was required to make the steelworks competitive internationally.<\/p>\n

\u201cA new bidder will have ideas and initiatives that they\u2019ll be able to take to the marketplace,\u201d said Mentha.<\/p>\n

\u201cI\u2019m sure if a government can see that and can see that we can be competitive on a global stage, then I\u2019m sure the support will follow.\u201d<\/p>\n

NXT leader, South Australian senator Nick Xenophon, mentioned the need for an urgent capital injection of $250 million at the site, as well as changes to procurement and anti-dupming laws.<\/p>\n

Arrium, which collapsed owing over $4 billion, in in the process of being sold off in two parts<\/a>: Moly-Cop (covering its profitable mining consumables business<\/a>) and the remained (Arrium Australia, including the steelworks).<\/p>\n

The steelworks was loss-making at the time of administration, and would be the least appealing asset for any buyer of Arrium Australia.<\/p>\n

KordaMentha expects the restructure and sale to be complete by the year\u2019s end.<\/p>\n<\/div>\n<\/div>\n

Read more at http:\/\/www.ferret.com.au\/articles\/news\/whyalla-tense-as-arrium-future-remains-uncertain-n2525874#VQJMMvdmuewD1veH.99<\/p>\n","protected":false},"excerpt":{"rendered":"

The uncertain future of the Whyalla\u2019s main employer, the Arrium steelworks, continues to trouble the city, with a significant capital injection needed to make the plant competitive again. The ABC\u2019s 7.30 reported last night that, according to unnamed business leaders, retail spending was down as much as 50 per cent. Thousands of workers are uncertain … Continue reading “Whyalla tense as Arrium future remains uncertain”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5],"tags":[],"class_list":["post-1741","post","type-post","status-publish","format-standard","hentry","category-iron-and-steel-industry"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-s5","jetpack-related-posts":[{"id":988,"url":"https:\/\/yinghuiinternational.com\/index.php\/2015\/10\/03\/arrium-to-slash-jobs-at-whyalla-steelworks%e2%80%8f\/","url_meta":{"origin":1741,"position":0},"title":"Arrium to slash jobs at Whyalla Steelworks\u200f","author":"yinghui","date":"October 3, 2015","format":false,"excerpt":"The owners of the Whyalla Steelworks in South Australia have announced that they will be cutting cost in the aim to save $100 million as they try and improve the viability of the steelworks. The cuts will affect areas such as, souring and procurement, labour and overheads, site rationalisations, corporate\u2026","rel":"","context":"In "Iron and Steel Industry"","block_context":{"text":"Iron and Steel Industry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/iron-and-steel-industry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1334,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/04\/08\/arrium-enters-voluntary-administration\/","url_meta":{"origin":1741,"position":1},"title":"Arrium enters voluntary administration","author":"yinghui","date":"April 8, 2016","format":false,"excerpt":"Steel and iron ore business Arrium announced this morning that it has appointed Grant Thornton as administrators. \u201cAfter considering the available alternatives, in the current circumstances it has become clear to the board of Arrium that it has, unfortunately, been left with no option than to place the relevant companies\u2026","rel":"","context":"In "Iron and Steel Industry"","block_context":{"text":"Iron and Steel Industry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/iron-and-steel-industry\/"},"img":{"alt_text":"arrium1-300x270","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2016\/04\/arrium1-300x270.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1299,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/03\/15\/expert-impact-of-whyalla-arrium-closure-would-be-worse-than-holden-shutdown\/","url_meta":{"origin":1741,"position":2},"title":"Expert: impact of Whyalla Arrium closure would be worse than Holden shutdown","author":"yinghui","date":"March 15, 2016","format":false,"excerpt":"The closure of Arrium\u2019s loss-making Whyalla steelworks would have a greater impact on its community than the closure of Holden\u2019s Elizabeth factory next year would, according to Professor John Spoehr. The academic from Flinders University\u2019s Business School told the ABC that the federal and state governments should formulate an assistance\u2026","rel":"","context":"In "Iron and Steel Industry"","block_context":{"text":"Iron and Steel Industry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/iron-and-steel-industry\/"},"img":{"alt_text":"1455666281558_1","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2016\/03\/1455666281558_1.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1353,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/04\/19\/keeping-whyalla-open-essential-to-arrium-survival-says-administrator\/","url_meta":{"origin":1741,"position":3},"title":"Keeping Whyalla open essential to Arrium survival, says administrator","author":"yinghui","date":"April 19, 2016","format":false,"excerpt":"A first meeting of Arrium\u2019s creditors is being held today, with the iron and steel business\u2019s administrator saying the future hinges on the Whyalla\u2019s steelworks. Mark Mentha of insolvency firm KordaMentha said most of the company, which owes around $4 billion, is in good shape, but was exposed to the\u2026","rel":"","context":"In "Iron and Steel Industry"","block_context":{"text":"Iron and Steel Industry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/iron-and-steel-industry\/"},"img":{"alt_text":"r390_54_1013_842_w1200_h678_fmax","src":"https:\/\/i0.wp.com\/www.bnmme.com.au\/wp-content\/uploads\/2016\/04\/r390_54_1013_842_w1200_h678_fmax.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1397,"url":"https:\/\/yinghuiinternational.com\/index.php\/2016\/05\/24\/arrium-sale-expected-to-be-complete-by-years-end\/","url_meta":{"origin":1741,"position":4},"title":"Arrium sale expected to be complete by year\u2019s end","author":"yinghui","date":"May 24, 2016","format":false,"excerpt":"Image: Reuters Steel and iron ore business Arrium will be on the market in late-July and most of the restructure and sale is expected to be completed by the end of the year, says the company\u2019s administrators. AAP and others report\u00a0that administrators KordaMentha have presented a proposal to state and\u2026","rel":"","context":"In "Iron and Steel Industry"","block_context":{"text":"Iron and Steel Industry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/iron-and-steel-industry\/"},"img":{"alt_text":"Image: Reuters","src":"https:\/\/i0.wp.com\/d9lhxyivbnow1.cloudfront.net\/wp-content\/uploads\/2016\/05\/24105913\/image-Reuters.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":2577,"url":"https:\/\/yinghuiinternational.com\/index.php\/2018\/01\/24\/gupta-secures-sa-iron-ore-approvals-could-create-ev-hub\/","url_meta":{"origin":1741,"position":5},"title":"Gupta secures SA iron ore approvals, could create EV hub","author":"yinghui","date":"January 24, 2018","format":false,"excerpt":"Two new iron ore mine leases have been granted in South Australia, in a boost to the local Whyalla steelworks. Sanjeev Gupta, the British industrialist and head of SIMEC Mining, has gained approval for two mines, Iron Sultan and Iron Warrior, which between them will support 56 permanent workers and\u2026","rel":"","context":"In "Iron and Steel Industry"","block_context":{"text":"Iron and Steel Industry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/iron-and-steel-industry\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/comments?post=1741"}],"version-history":[{"count":1,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1741\/revisions"}],"predecessor-version":[{"id":1742,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/posts\/1741\/revisions\/1742"}],"wp:attachment":[{"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/media?parent=1741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/categories?post=1741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yinghuiinternational.com\/index.php\/wp-json\/wp\/v2\/tags?post=1741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}