Administrator hopeful of pre-election federal co-investment for Arrium

Arrium's iron ore operations

Arrium’s administrator has said it is “quietly confident” federal assistance could be delivered by the July 2 election, though the government has said it wouldn’t be rushed into a decision.

KordaMentha has said the iron ore miner and steelmaker would need over $100 million to upgrade its mining operations and Whyalla steelworks. The administrator’s Mark Mentha has said upgrades would have to begin before a buyer would be attracted.

“Attracting businesses with a package that is quantifiable and known rather than talked about, I think is absolutely critical to give confidence to the process and the fact that the administrators are governed by the corporations act, not the electoral act,” he told ABC’s AM.

“I’m quietly confident that we will have a package from the Federal Government in the very near term.”

Industry minister Christopher Pyne, however, said the government would not “be rushed into a decision in an election climate”.

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