South Australia throws A$50m lifeline to Whyalla

The South Australian government on Thursday committed A$50-million to support the new owner of the loss-making Whyalla steelworks, which is up for sale after mining and steel group Arrium entered into administration earlier this year. Premier Jay Weatherhill had also asked the leaders of both major parties to contribute A$100-million towards a funding facility, which meant that the total funding available to the new purchaser would be A$150-million.