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Steel tycoon considers bid for Rio Tinto's Dunkirk aluminum smelter - sources

By: Reuters     14th December 2017 Liberty House, the industrial and commodities group buying a number of steel assets around the world, is considering a bid for Rio Tinto's aluminium smelter in northern France, the largest in Europe, three sources with direct knowledge of the matter told Reuters. The Dunkirk plant, which the... 

Arrium dividend distribution begins

By: Esmarie Swanepoel     22nd September 2017 The administrators of ASX-listed Arrium has begun distributing a first dividend of A$500-million to the creditors of the now defunct company, following the divestment of the company’s steel and mining interests. Arrium administrators said on Friday that about 5 000 unsecured creditors would... 

Work on Adani’s Carmichael coal mine to start in October

By: Esmarie Swanepoel     28th August 2017 Indian major Adani has announced that early work on its $16.5-billion Carmichael coal project, in Queensland, will start in October, with first shipments targeted for March 2020. The announcement comes just days after Adani won three legal battles against the proposed 60-million-tonne-a-year... 

Glencore said to draw Liberty House bid for Australian mine

By: Bloomberg     12th July 2017 Liberty House Group, fresh off a deal for Australian steel mill Arrium, is among bidders for a Glencore coal mine that could fetch as much as A$500-million, people with knowledge of the matter said. Liberty House’s GFG Alliance joint venture submitted an indicative offer for the Tahmoor mine by... 

Arrium sale brings certainty for Whyalla workers – govt

By: Esmarie Swanepoel     6th July 2017 Both the federal and state governments have welcomed a deal to save the struggling Arrium steel plant and iron-ore mining operation in Whyalla, South Australia. The administrators of Arrium Mining and Materials earlier this week struck a deal with London-based GFG Alliance after the company... 

UK’s GFG Alliance signs binding deal to buy struggling steelmaker Arrium

By: Esmarie Swanepoel     5th July 2017 London-based GFG Alliance will buy the struggling Arrium steel plant and iron-ore mining operation in Whyalla, South Australia. GFG Alliance, headed by Sanjeev Gupta, on Tuesday submitted a modified offer for the Arrium Australia businesses, prompting the administrators to back the bid, despite... 

S Australian govt welcomes Arrium sale

By: Esmarie Swanepoel     16th June 2017 South Australian Treasurer Tom Koutsantonis has welcomed a decision by the administrators of Arrium Mining and Materials, after the company confirmed that a Korean consortium had been chosen as the preferred bidder for the group of companies. The consortium is led by Newlake Alliance Management... 

Adani places A$74m order with Arrium for North Galilee Basin rail link

By: Esmarie Swanepoel     4th May 2017 Indian major Adani has awarded a A$74-million contract to embattled South Australian steel producer Arrium Mining and Materials for a railway line. Adani will source 54 000 t of hardened rail from Arrium for its 400 km North Galilee Basin rail link from the proposed Carmichael coal mine to the... 

Liberty House closer to buying Australia’s Arrium steel producer

By: Bloomberg     15th December 2016 Liberty House Group is closer to taking over Australia’s steel producer Arrium, as the London-based steel manufacturer and metals trader is completing the purchases of units of Tata Steel and Rio Tinto in the UK. “We’re in the second round on Arrium, we’ve been shortlisted among four bidders,”... 

Industry Minister meets Posco to discuss Whyalla future, possible bid

By: Esmarie Swanepoel     3rd November 2016 South Korean steel major Posco has emerged as a viable buyer for the steelworks division of the now defunct Arrium. Federal Industry Minister Greg Hunt on Thursday revealed that Posco had expressed a “strong desire” in buying the Whyalla steelworks, which was placed on administration earlier... 

Arrium faces A$40M steelworks hit after electricity blackout

By: Bloomberg     2nd October 2016 Australian steel and iron-ore producer Arrium may face costs of as much as A$40-million following storms that caused blackouts and forced BHP Billiton to halt its Olympic Dam copper operation. Arrium’s steelworks in the south-coast town of Whyalla and the mining of iron-ore to feed the mill have... 

Arrium iron-ore mines get A$49m loan for machinery

By: Mariaan Webb     22nd July 2016 The Australian government will provide a loan to collapsed South Australian company Arrium to support its iron-ore business and give its cash flow a boost. Prime Minister Malcolm Turnbull on Friday confirmed that the Export Finance and Insurance Corporation would provide a A$49.2-million loan,... 

Miners cut distressed debt pool by $60bn as rebound firms

By: Bloomberg     13th June 2016 Mining companies are getting back into financial shape and have cut the sector’s pool of distressed bonds by at least $60-billion, providing another boost to the industry’s outlook as commodities enter a bull market. Anglo American and Glencore are among companies whose notes no longer feature... 

South Australia throws A$50m lifeline to Whyalla

By: Mariaan Webb     9th June 2016 The South Australian government on Thursday committed A$50-million to support the new owner of the loss-making Whyalla steelworks, which is up for sale after mining and steel group Arrium entered into administration earlier this year. Premier Jay Weatherhill had also asked the leaders of both... 

Arrium recap and sales process to be completed by year-end

By: Mariaan Webb     23rd May 2016 The recapitalisation and sale of collapsed Australian mining and steel group Arrium’s assets would be largely completed by the end of the year, the company’s administrator reported on Monday. The recapitalisation and sales process would start in July and was expected to attract “genuine interest”... 

South Australian govt still backing Arrium

By: Esmarie Swanepoel     20th April 2016 South Australian Treasurer, State Development, Finance and Mineral Resources and Energy Minister Tom Koutsantonis said on Wednesday said that the state government was continuing its work to save embattled iron-ore and steel producer Arrium. ASX-listed Arrium earlier this month went into... 

Arrium goes into administration after recap plan fails

By: Esmarie Swanepoel     7th April 2016 ASX-listed Arrium has gone into voluntary administration after lenders this week rejected a recapitalisation plan. Arrium told shareholders on Thursday that after considering the available alternatives, it had become clear that the company had no option other than to go into voluntary... 

Arrium lenders shoot down $927m bailout

By: Esmarie Swanepoel     5th April 2016 The federal government has come out in support of struggling steel and iron-ore company Arrium after lenders rejected a recapitalisation plan for the company. Arrium in February secured $927-million in funding from GSO Capital Partners as part of attempts to restructure and level its debt in a... 

Arrium gets go-ahead to develop multi-user port at Whyalla

By: Esmarie Swanepoel     29th September 2015 The South Australian government has reached an agreement with ASX-listed Arrium to create a major multi-user port at Whyalla. The state’s Resources Infrastructure Taskforce had previously identified Whayalla as one of three preferred options for a multi-user, bulk capacity port in the Upper... 

Arrium reports major refinancing

By: Esmarie Swanepoel     21st May 2015 ASX-listed Arrium on Thursday announced that it had refinanced some $200-million of debt facilities due in 2017. Arrium CFO Robert Bakewell said that the company had around A$1.3-billion of available committed undrawn facilities at the end of December, with the company previously indicating that... 

Arrium raises cash to repay debts

By: Esmarie Swanepoel     15th September 2014 Diversified mining and materials company Arrium on Monday announced plans to raise around A$754-million through a renounceable entitlement offer and a placement to institutional investors. The one-for-one pro-rata accelerated entitlement offer would raise some A$656-million, with the shares to... 

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