Molycop sold for $1.23b, page-48

I think you will find the Whyalla plant and equipment need serious expenditure and upgrades.

The place is literally falling apart and blast furnace needs serious upgrade in the coming years.

KM have stated that the issue is investment is not possible under current cash flow and business would just crumble if continued without large investment.

Not sure if any of you have actually visited the Whyalla steelworks at all, all the sealed tarmac roads have huge pot holes in it, there's metal electrical boxes around the place held shut by duct tape, lots of the big sheds that people work in have missing iron sheets off of the roof. rail track in steelworks only has a sleeper holding line in place every third sleeper. Its seriously ran down and needs huge cash injection.

If you get the chance jump on the tour bus and have a GOOD look around.