OneSteel Manufacturing Pty Limited (Administrators Appointed)

OneSteel Manufacturing Pty Limited (Administrators Appointed)
ACN 004 651 325 (‘the Company’) 
Trading as OneSteel Whyalla Steelworks and SIMEC Mining
 

General information

Mark Mentha, Sebastian Hams, Michael Korda and Lara Wiggins were appointed Voluntary Administrators of the Company on 19 February 2025 pursuant to Section 436C of the Corporations Act.

The Administrators intend to continue to operate the Company during the administration process to maximise the chances of the business continuing in the interests of all stakeholders.

The initial focus is examining the financial position of the Company and stabilising the business while we develop a plan for its future, securing new investment and possibly transitioning to new ownership.

The Company is relying on the relief set out in ASIC Corporations (Externally-Administered Bodies) Instrument 2015/251 in relation to the Company’s financial reporting obligations under Part 2M.3 of the Corporations Act 2001.

Any updates in relation to the status of the administration will be communicated to stakeholders via mail, email and this website as they become available.
 

First meeting of creditors

The first meeting of creditors pursuant to Section 436E of the Corporations Act was held on Monday, 3 March 2025 at 2pm (ACDT). The meeting was held both virtually and in person in Whyalla. The meeting focused on the challenges leading up to the appointment of Administrators, the current financial and operational status of the business, and the immediate and long-term steps required to stabilise operations. It was determined by the creditors in attendance at the meeting that a Committee of Inspection be formed for the Company, with membership of the Committee also determined. 
 

Convening period extension

On 17 March 2025, the Administrators applied to the Federal Court of Australia seeking a twelve-month extension to the deadline to convene the second meeting of creditors of the Company (‘Convening Period’). The Administrators sought orders to extend the Convening Period to 20 March 2026 (from 20 March 2025). The Administrators also sought orders permitting convening of the second meeting of creditors at any time before the end of the Convening Period on 20 March 2026 by giving the creditors five business days’ notice of the second meeting.

The Court made orders granting the relief sought by the Administrators. Further information is included below in the ‘Legal’ section.
 

Whyalla Business Support Package 

The Australian and South Australian Governments have committed almost $100 million for support programs designed to help businesses and people impacted by the decline in steelmaking in Whyalla, and the appointment of Administrators to the Company. Further information on the support that has been made available is included under the 'Whyalla Business Support Package' section below and via the following link.

Support package information: Whyalla Business Support Package | Department of State Development

Please note that the scheme has now closed for applications.

Creditor claims

A Proof of Debt claim can be lodged for any amount outstanding to you as at the date of the administration. Further details on how to submit a Proof of Debt is available in the creditors’ circulars and FAQ documents posted in the ‘Creditor’ section below.

Creditors can lodge their Proof of Debt claim here.
 

Expressions of interest

Any parties interested in acquiring the business should contact [email protected] for further information on the sale or recapitalisation process.
 

General queries

If you have any queries in relation to the administration process and how it impacts you as a stakeholder, please contact the Administrators via email as follows:

• Creditors – [email protected]
• Employees – [email protected]
• Trade on suppliers – [email protected]
• All other enquiries – [email protected]