BlueScope Steel, a flat steel product manufacturer in Australia, is spearheading an international consortium to acquire the Whyalla steelworks in South Australia, which entered administration in February. The group includes Japan's Nippon Steel, India's JSW Steel, and South Korea's POSCO.

The consortium has submitted an expression of interest for the assets, which also include port infrastructure and an iron ore export business.

BlueScope sees Whyalla as a prospective site for future lower-emissions iron production for both domestic and export markets.

The bid is supported by a combined A$2.66 billion in government funding from Canberra and South Australia to maintain operations and invest in the future of the steelworks.