The Whyalla steelworks employs 1100 workers and supports more than 2000 indirectly.
Whyalla is critical to sovereign Australian steel. It’s one of only two Australian steelworks, produces 75 per cent of Australian structural steel and is the only domestic producer of long steel products.
This comes as the Albanese Government announced a new Green Iron fund to boost green iron manufacturing and supply chains by supporting early mover green iron projects and unlocking private investment at scale.
Steel from Whyalla helps Australia build and maintain its infrastructure – including railways, bridges, schools, hospitals, high-rise towers, transmission infrastructure and defence assets.
The Whyalla Steelworks is also critical for future ambitions for green steel manufacturing, which will be increasingly lucrative as the world seeks to decarbonise.
The funding will be delivered in three distinct parts: immediate on-the-ground support, stabilising the Steelworks and investing in the Steelworks’ future.
The Commonwealth Government has earmarked up to $500 million of the Green Iron Investment Fund to support the longer term transformation of the steelworks. It will also make available substantial additional financing to partner with a future owner and operator to upgrade the facility and ensure a green steel future for Whyalla and South Australia.
“Whyalla steel has forged some of our country’s biggest projects – rail lines, airports and stadiums,” says Prime Minister Anthony Albanese.
“That’s why today in partnership with the Malinauskas Government, we are delivering more than $2 billion ensure the future of the steelworks and support local jobs.”
The South Australian Government’s share will come from funding set aside for the Hydrogen Jobs Plan, which will now be deferred to prioritise securing the steelworks, as well as $50 million from the Whyalla Steelworks Operational Efficiency Improvements Fund.
