The South Australian government announced in its 2026-27 budget, released on June 4, that it will provide an additional A$319 million over the next two years to support the sale and subsequent operation of the Whyalla Steelworks.
The South Australian government placed the steel plant into administration in February last year. Since then, the plant has received over A$2.88 billion in funding from the state and federal governments.
To support the Whyalla Steelworks’ transition to low-carbon steelmaking, the South Australian government has also allocated a two-year budget totaling A$6.5 million.
Recently, Australian company M Resources and Indian company Jindal Steel have been selected by the South Australian government as qualified bidders for the acquisition of the steelworks.