The collapse of German financier Greensill Capital has thrown the future of the GFG Alliance into jeopardy, with Australia’s Whyalla steel mill and Tahmoor Coal caught in the crossfire.
Havilah Resources’ attempt to pass a $100 million funding proposal from GFG Alliance member, SIMEC Mining, has been blocked.
Havilah Resources is set to receive a capital injection of up to $100 million to fund work programs on its iron ore assets, copper projects and Mutooroo deposit in South Australia.
SRG Global has impressed GFG Liberty OneSteel with its capability and performance in recent months, setting it up for a long-term contract at the Whyalla Steelworks site in South Australia.
Iron ore producer Arrium could soon expand to gold and copper production, new CEO Andrew Roberts said on Thursday.
OneSteel will change its name to Arrium as part of its move away from steel and into the mining sector.