KordaMentha
CompanyWikipedia
10
MENTIONS
7
EPISODES
7
PODCASTS
Search complete. 10 mentions across 7 episodes found for "KordaMentha".
Sep 15, 2026
John McIntoshHOST
The South Australian government forced the steelworks into administration in February 2025 over mounting debts of former owner GFG Alliance, headed by Indian-born British businessman Sanjeev Gupta.
John McIntoshHOST
A joint state-federal $2.4 billion rescue package was handed out to keep the steelworks afloat under Kordamentha.
John McIntoshHOST
Kordamentha and the state government have been working to sell the business, with Coal Magnate, Matt Lattimore's M Resources, and India's third-largest steelmaker, Jindal Steel, revealed as the final remaining bidders in May.
John McIntoshHOST
A consortium led by Blue Scope Steel, which has been advising Cortimenta since March 2025, remains the right of final offer.
John McIntoshHOST
Rescue packages have also been doled out to Nystar's lead smelters in SA and Tasmania and the largest aluminium smelter at Tomego in New South Wales.
Sebastian HarmsSOUNDBITE_SPEAKER
At the end of the day, the blast furnace made the decision itself.
speaker_0HOST
Sebastian Harms is from administrators KordaMentha, which was appointed to stabilize the steelworks and find a new buyer last year.
Sebastian HarmsSOUNDBITE_SPEAKER
We've got to a point where it's simply unsustainable to continue the blast furnace recovery, and the failure of the blo- blast furnace is inevitable.
speaker_0HOST
With the furnace gone, around 500 workers are expected to be out of a job, plus a further 100 contractors working at the site.
Michael ThompsonHOST
Anyway, uh, we'll be back in a moment with the rest of the day's business news.
Michael ThompsonHOST
[upbeat music] Sean, up to 600 workers at the Whyalla Steel Works will be made redundant after administrator KordaMentha and the South Australian Government decided to abandon attempts to restart the aging blast furnace.
Michael ThompsonHOST
KordaMentha has been operating the Whyalla Steel Works since February of last year when the, uh, state government forced it into administration.
Michael ThompsonHOST
We talked about this quite a bit at the time, essentially, uh, losing patience with owner, the British industrialist Sanjeev Gupta, and accusing him of starving the plant of capital.
Sean AylmerHOST
Yeah, a bit of an icon in Australian business.
Sebastian HarmsSOUNDBITE_SPEAKER
At the end of the day, the blast furnace made the decision itself.
Angus RandallCORRESPONDENT
Sebastian Harms is from administrators KordaMentha, which was appointed to stabilize the steelworks and find a new buyer last year.
Sebastian HarmsSOUNDBITE_SPEAKER
We've got to a point where it's simply unsustainable to continue the blast furnace recovery, and the failure of the blos- blast furnace is inevitable.
Angus RandallCORRESPONDENT
With the furnace gone, around five hundred workers are expected to be out of a job, plus a further one hundred contractors working at the site.
Sean AylmerHOST
She said she was optimistic that the rapid development of AI tools will bolster productivity over time, but AI ain't no silver bullet.
Michael ThompsonHOST
Story number three, up to 600 workers at the Whyalla Steel Works will be made redundant after administrator KordaMentha and the South Australian Government decided to abandon attempts to restart the aging blast furnace.
Michael ThompsonHOST
KordaMentha has been operating the Whyalla Steel Works since February last year when the state government forced it into administration, essentially losing patience with the owner, British industrialist Sanjeev Gupta, and accusing him of starving the plant of capital.
Sean AylmerHOST
The blast furnace built by BHP in the early 1960s had a series of technical problems and had not worked since April, according to The Fin Review.
Sean AylmerHOST
A rolling mill that bends steel into shape will keep operating on the site using imported semi-finished materials, which will make finished structural steel products used in the construction and railway industries.
Bryce LeskeHOST
Six hundred jobs axed as Whyalla's blast furnace declared beyond saving.
Bryce LeskeHOST
KordaMentha and the South Australian Government have given up on restarting the aging furnace.
Bryce LeskeHOST
The site will keep operating a rolling mill using imported steel while the sale process continues, with M Resources and India's Jindal Steel the final two bidders.
Alec RenehanHOST
One Nation unveils plan to slash immigration by seven hundred and fifty thousand places over three years.
Samantha HawleyHOST
So just tell me what is happening now.
Paul BarryGUEST
Well, for the last 18 months, the steelworks at Whyalla have been run by KordaMentha, who are a firm of insolvency accountants.
Paul BarryGUEST
They have invested fair bit of money.
Paul BarryGUEST
They've got the, the company running again.