Liberty Primary Metals CEO Theuns Victor said Japanese investors had shown huge interest in the business’s transformation to carbon-neutral steelmaking.
in Whyalla are in advanced talks with Japanese steelmakers and traders looking to invest in a major expansion of the business.
He confirmed Mr Gupta’s ambitions to expand the Whyalla steelworks in South Australia and boost its magnetite iron ore mining operations to meet rising global demand for carbon-neutral steel. His global entity, GFG Alliance, will spend as much as $500 million on a new electric arc furnace at the Whyalla steelworks in South Australia as it phases out coal-based steel making, in use since the mid-1960s. GFG aims to lift magnetite ore mining from 2.5 million tonnes a year to 15 million tonnes a year by 2026.
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