Booming steel exports from China have hurt Whyalla’s prospects for survival. Photo: AP
Arrium will meet its financiers in the next few days to discuss if the South Australian steelmaker has a hope of survival.
The company, which has warned it may be forced to close its Whyalla steelworks and iron ore mines, will meet with its financiers over the next few days as net debt has topped $2 billion. It is reviewing refinancing proposals which may result in a rescheduling of some loans.
Arrium has also warned in its latest accounts of “uncertainty which may be material” in determining whether it “will continue a…
Read the full article at: http://www.smh.com.au/business/mining-and-resources/arrium-to-meet-lenders-in-effort-to-stay-afloat-as-debt-tops-2-billion-20160217-gmwbix.html