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OneSteel says it will be creating an extra 450 mining jobs in Whyalla as it continues to shift its business from manufacturing to mining.
Yesterday OneSteel announced a net loss of $75 million for the six months to 31 December and said it would cut 430 steelworkers across Australia.
The company said a "difficult external environment" was hurting the Australian steel business and it was looking to expand in the resources industry instead.
According to Adelaide Now OneSteel’s mining division in Whyalla is growing strongly and has posted a before-tax profit of $171 million.
A OneSteel spokesperson told Adelaide Now the company was on track to sell around six million tonnes of iron ore this financial year and it was "very pleased" with the progress.
"There will be an extra 450-odd jobs in the mining business," they said.
"About half of those will be permanent and half during the construction project in terms of the port."
In the company’s half-yearly results statement OneSteel chief executive Geoff Plummer said the mining business now accounted for around 40 per cent of total revenue.
Last year OneSteel bought the Peculiar Knob iron ore deposit from WPG Resources for $346 million.
Image: Rio Tinto