00:01A morning meeting to break difficult news to Wyala's steelworkers.
00:06About 500 employees and 100 contractors have been told they're out of work.
00:11The future's also unclear for an additional 200 contractors
00:15at the site which produces three quarters of Australia's structural steel.
00:20It's a sad day. The local community has been aware for a long time that this day would arrive.
00:25The Jobs Act's coming down five months after the Steelworks critical blast furnace went offline.
00:31Taxpayers spent millions trying to revive it to no avail.
00:35It's simply unsustainable to continue the blast furnace recovery.
00:39The South Australian Government took over the site early last year
00:42after former owner GFG went into debt.
00:45Redundancy payments will cost taxpayers an estimated $80 million
00:50with an additional $10 million to be spent on worker support packages
00:54while some steelmaking continues using stockpiles.
00:57We warned there'd be a Wyala wipeout from carbon taxes and net zero madness
01:01and unfortunately and sadly here we are.
01:04It's over 60 years old. It hasn't had a reline in over 20 years
01:08and the previous owner ran it into the ground. That's why it's closing.
01:13The blast furnace closure comes as State and Federal Governments
01:17look to finalise the sale of the Steelworks by the end of the year.
01:21The successful bidder will be handed nearly $2 billion worth of taxpayers' money
01:27to fund a new electric arc furnace to modernise the business.
01:31The The first time is over 60 years of the year and the new capital
01:32will be supported by the end of the year and the new capital
01:32the state has been covered with the loan and the new capital
01:33the first of the year and the new capital the new capital the capital the new capital
Comments