The Whyalla Steelworks in Australia, which makes 75% of the country’s structural steel, has seen its owner OneSteel Manufacturing (a GFG Alliance subsidiary) forced into administration over unpaid royalties by the South Australian government. The mill is $200 million in debt and has been handed over to KordaMentha which will run the facility while looking for a buyer. The state and federal governments will support a purchase with $320 million funding for improvements. Not only that but the federal government has decided on a $1.5 billion buyout, with a broader goal of supporting green steel manufacturing. In April 2023 the mill’s owners announced the facility would switch to an electric arc furnace, which would have cost around $300 million. This…