PRESS RELEASE
20 February 2025

KordaMentha appointed voluntary administrators of OneSteel Manufacturing Pty Ltd

K
KordaMentha

Contributor

KordaMentha, an independent firm in Asia-Pacific, specializes in cybersecurity, financial crime, forensic, performance improvement, real estate, and restructuring services. With a diverse team of almost 400 specialists, they provide customised solutions to help clients grow, protect from financial loss, and recover value. Trusted since 2002, they deliver bold, impactful solutions for clients.
KordaMentha partners Mark Mentha, Sebastian Hams, Michael Korda and Lara Wiggins have been appointed voluntary administrators of OneSteel Manufacturing Pty Ltd, the owner and operator of the Whyalla steelworks and the iron ore mining operations in the Mid
Australia

KordaMentha partners Mark Mentha, Sebastian Hams, Michael Korda and Lara Wiggins have been appointed voluntary administrators of OneSteel Manufacturing Pty Ltd, the owner and operator of the Whyalla steelworks and the iron ore mining operations in the Middlebank Range (together, 'Whyalla Steelworks and Mining') in South Australia.

The appointment was made by the South Australian Government.

KordaMentha's Mark Mentha said the voluntary administrators' intention is for Whyalla Steelworks and Mining to continue operating during the voluntary administration period.

This will preserve around 4000 direct and indirect jobs, as well as support local businesses in the Whyalla community and the nation's steel industry.

"As administrators, our job is to examine the financial position of the Company, stabilise the business and maximise the chances of the business continuing in the interests of all stakeholders," said Mr Mentha.

"With the funding support of the South Australian Government and support from other interested stakeholders, Whyalla Steelworks and Mining will remain in business under our control while we assess the next alternatives and complete our investigations.

"This may take some time, but all parties are committed to ensuring the business remains operational while we work out a plan for its future, securing new investment and possibly transitioning to new ownership."

The first meeting of creditors will be held on Monday 3 March 2025 at 2pm in Whyalla and also virtually. Further details will be provided in circulars to be issued to creditors and employees in the coming days. In the meantime, any enquiries should be directed to:

  • Creditors - onesteelcreditors@kordamentha.com
  • Employees - onesteelemployees@kordamentha.com
  • All other enquiries - onesteelgeneral@kordamentha.com


The official announcement of appointment for this engagement can be downloaded here.

Contributor

KordaMentha, an independent firm in Asia-Pacific, specializes in cybersecurity, financial crime, forensic, performance improvement, real estate, and restructuring services. With a diverse team of almost 400 specialists, they provide customised solutions to help clients grow, protect from financial loss, and recover value. Trusted since 2002, they deliver bold, impactful solutions for clients.

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