Sanjeev Gupta’s letter to South Australia about Whyalla steelworks

Read Sanjeev Gupta’s open, passionate letter to South Australia – and Whyalla in particular.

Firstly, can I thank the people of Whyalla for the support they’ve shown GFG Alliance over the past five weeks.

Whyalla has long played an important role in Australian manufacturing, providing high-quality steel that has shaped much of the country’s infrastructure for many decades. I care deeply about continuing this legacy and building upon it to ensure a sustainable future for industry and society.

I also care deeply about my people, their futures and their communities; rest assured my team and I are working tirelessly to refinance the business away from Greensill’s creditors.

Meanwhile, our team is continuing to do what we do best; supplying high-quality, Australian-made steel to projects which are critical to nation building.

Executive Chairman of GFG Alliance Sanjeev Gupta near Whyalla. Picture: AAP / David Mariuz

Through their hard work and determination, we have turned the business around to a point where the integrated operations are profitable and performing the best they have for many years. I’m very proud of this team and this remarkable achievement. Because of this effort, we are in a much stronger position.

We have already received multiple offers for refinancing from large lenders for our integrated mining and steelworks business in Whyalla and Tahmoor. We are now in advanced stages of due diligence.

This shows we are moving in the right direction.

In summary, we are maintaining operations as usual; we’re benefiting from strong tailwinds in steel and iron ore markets and high demand for our products in Australia, and our refinancing discussions are progressing very positively.

Whyalla will always be a special place for me; I have said before it is my spiritual home, I’ve made many friends since I acquired the business, both in the community and among our workforce. And from the beginning what I have admired most is their resilience.

I remain committed to our GREENSTEEL transformation vision. And I can’t wait to be back in Whyalla again with you all.