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ABC NEWS (Australia)
  • 11 months ago
The Whyalla Steelworks has been forced into administration after failing to pay tens of millions of dollars in royalties to the South Australian government.

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00:00This has been a series of dominoes that have fallen over that has led to this pretty extraordinary
00:08move by the government where they rushed through this legislation in about 40 minutes or so.
00:13So for a long time now, the Steelworks has been heavily indebted to several creditors
00:18and suppliers, as well as contractors here in town.
00:22So it's taken a lot of steps for this to come about.
00:25And here's what the Premier had to say earlier.
00:28We take this action very conscious of its significance, but we do so with absolute confidence
00:36and clarity that this is the right course of action to secure steelmaking in this country.
00:43It is unacceptable for such an important critical piece of economic infrastructure for the nation
00:52to be in a situation where its ongoing operations are so severely compromised as we believe
00:58was the case.
01:00So that was the Premier speaking to us earlier at a press conference in South Australia.
01:05Having spoken to a couple of residents here in Wyella, they were actually surprised that
01:09it's taken this long for the government to take this kind of action.
01:13And several people have been pleased that the government have taken this step.
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