This Month
South Australian budget winners and losers
Whyalla residents and aspiring police officers are winners in the South Australian budget, but inflation is forecast to rise.
This Australian firm is set to win from Trump’s steel call
The US tariffs come amid a global oversupply of steel, with the OECD warning capacity will expand by 7 per cent by 2027, much of it in China.
May
Billionaire Stokes family check out the up-for-sale Whyalla steel mill
SGH Limited would be a left-of-field bidder for the plant, owned by Sanjeev Gupta until the South Australian government seized it earlier this year.
Whyalla administrators in credit stand-off with Gupta’s InfraBuild
KordaMentha halted the delivery of steel for several days last week over a payment dispute as the relationship between the two businesses deteriorates.
Sanjeev Gupta’s Tasmanian plant is the latest smelter to hit trouble
The decision to pause operations at the Liberty Bell Bay smelter adds to broader doubts about the economic viability of Australia’s metals smelters.
Sanjeev Gupta’s Whyalla port row gives contractor a $113m headache
ASX-listed mining services provider NRW Holdings faces a big hit as the fallout from the February collapse of the South Australian steelworks continues.
Sanjeev Gupta furious at risk of losing control of Whyalla port
The embattled British industrialist is set to have another asset seized while he tries to revive a “ghost” coal mine in NSW.
Aurizon slashes 200 jobs as Whyalla impairment bites
The rail freight group is hauling less bulk commodities, partly because of big customers such as the Whyalla Steelworks being in administration.
April
Meet the ex-Deloitte consultant who has driven 85,000km to win a seat
Tom Venning has a strong chance to be the new MP for a sprawling SA seat after exiting the corporate world with a hope to bring a back-to-basics economic approach.
AFL’s Port Adelaide and Gupta’s GFG settle guernsey stoush
The AFL club and a company associated with Sanjeev Gupta have hashed out a settlement over missing sponsorship payments.
Ben Brazil’s FitzWalter calls off $800m InfraBuild debt suit
Sanjeev Gupta’s Australian steel-making business declined to provide details except to say the former Macquarie deal maker had agreed to dismiss the claim.
Greensill Bank alleges IAG executives knew of billion-dollar policies
The claim, filed with the Federal Court, has been brought against the insurance giant by German investors owed money by Lex Greensill’s failed financial group.
BlueScope finds $180 million repair bill for Whyalla steelworks
While parties have begun circling the plant, run by businessman Sanjeev Gupta until February, administrators have been warned upgrades are urgently needed.
Sanjeev Gupta refuses to hand over control of Whyalla port
KordaMentha has taken the British industrialist to court, claiming he refuses to hand it control of the town’s port, jeopardising plans to find a new owner.
Sanjeev Gupta’s InfraBuild reshuffles its debts to hold off default
The steel-making business said it would raise an extra $240 million from bondholders, already owed $880 million, and pay down other loans due next year.
Fitch Ratings says Gupta’s InfraBuild faces default within months
The sprawling steel business is the British industrialist’s last good asset. The credit agency says a breach of its lending agreement “appears probable”.
March
Gupta back spruiking ‘spirit of GFG’ at Cafe Sydney
Subtlety isn’t Sanjeev Gupta’s style, so it’s little wonder he isn’t even waiting for administrators to leave Whyalla before again burnishing GFG’s brand.
Ben Brazil’s InfraBuild lawsuit spurious and illogical: Gupta
In response to a New York lawsuit, the British industrialist said bond agreements expressly allowed the use of company funds to pay GFG Alliance creditors.
Whyalla steelworks in $60m emergency spend to secure coal supply
The steelworks’ administrators have secured coking coal from BlueScope, China and Indonesia to keep making steel after it was left with only three days’ supply.
Sanjeev Gupta’s InfraBuild delays accounts for third time in a month
Despite having circulated its unaudited half-year financial results to bondholders on March 3, it has repeatedly delayed a call to discuss the finalised figures.