SIMEC Group

In 2013, SIMEC Group refocused itself – mainly on to sustainable power, mining and infrastructure. Among many developments since then, in 2017 it acquired Arrium Mining and OneSteel operations in South Australia[4] for USD750 million.[1] The mining assets of the former company included iron ore (magnetite and haematite) mines in the Middleback Range[7][8] and a dolomite mine (to supply blast furnace flux) at Ardrossan, South Australia.[9]

In 2017, GFG Alliance purchased Arrium's Whyalla Steelworks in South Australia, announcing that a new AUD600 million investment would lift production to 1.8 million tonnes a year. In 2018 the company announced it would build a new steel manufacturing plant next to the existing one. It would be capable of producing 10 million tonnes a year – making it the largest in the western world – and have infrastructure to eventually double that capacity.[10]

SIMEC Mining acquired mining leases in 2018 for the Iron Sultan and Iron Warrior mines in the Middleback Range, 50 km (30 mi) south-west of Whyalla, reflecting the need for significant sources of iron ore for its expanding capacity.[10]

Another member of GFG Alliance, SIMEC Energy Australia Pty Ltd, acquired a controlling stake in South Australian renewable energy and storage technologies company, ZEN Energy Pty Ltd, in 2017 and formed a joint venture named SIMEC Zen Energy. Sanjeev Gupta said his company was investing in large-scale power projects to meet its own industrial requirements. Describing the high cost of energy for Australian consumers as "a crying shame for a country so rich in resources", he said "it has been a priority for us to take decisive remedial steps."[6]