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Wiping off Whyalla has become something of a macabre sport. All manner of things have been said to be about to destroy the steelworks town, including (briefly) the 2012-2014 carbon price. BHP abandoned the steelworks, the harbour and the nearly Middleback Range iron ore mine in 2000, floating it off as a separate company it called OneSteel. Renamed Arrium, the company collapsed in 2016, in circumstances that are still being fought out in court. Bought in July 2017 by Dubai-based British industrialist Sanjeev Gupta, the steelworks enjoyed a revival until this month, with an exclusive contract ...

It's essential to save the steelworks, but that s just the start.

Sanjeev Gupta is fighting to save his sprawling empire after Greensill Capital, its biggest lender, collapsed into administration. While the markets for GFG Alliance’s steel mills and aluminum smelters are buoyant, a court filing revealed on Monday that Gupta’s group had told Greensill in February that it would be insolvent without its funding. That casts a shadow over operations that employ about 35,000 people across 30 different nations. Some of those assets may be snapped up, but for others Gupta —dubbed the “savior of steel” — was the only bidder last time they were offered fo...