Gladys Berejiklian will be receiving the AstraZeneca jab; Qantas chief Alan Joyce warns tourists and students could abandon Australia. Follow latest updates
The owner of the Whyalla steelmill, GFG, insists it has “adequate funding for our current needs” following the collapse of its major backer, finance group Greensill Capital.
As we reported overnight, GFG owes Greensill some $4bn, hundreds of millions of dollars of which relate to its Australian operations. GFG is in dispute over the debt, and in the short term needs to find a fresh backer.
GFG Alliance as a whole is operationally strong and we are benefiting from a thirteen year high in steel prices as well as strong markets in aluminium and iron ore. While Greensill’s difficulties have created a challenging situation, we have adequate funding for our current needs.
Through our global efficiency drive we’ve improved our operations’ margins with most of our major businesses generating positive cashflows. Discussions to secure alternative long-term funding are progressing well but will take some time to organise. While this takes place we have asked all of our businesses to manage cash carefully. We thank our employees, customers and suppliers for their continued support.
We need to know that steel workers will be looked after should anything happen, and we also need to ensure that we’ve got a Government that’s on the side of manufacturing workers…
And this has been a question that we’ve seen and had for quite some time with the Coalition Government. They have pummelled manufacturing over the years, driven out car manufacturing, cobbled together manufacturing plans after getting rid of them just because
……..and the Adelaide protesters have glued themselves to the road.
The protesters have glued themselves to the ground pic.twitter.com/p5PoYBFyj0