SAVED: Former Arrium Administrator Mark Mentha had to battle against the odds to rescue Arrium from its debt.
With the sale of Liberty OneSteel, formerly Arrium, now complete, former Administrator Mark Mentha looks back on the long journey to this point.
Introduction
Arriums Whyalla operation had been under significant pressure for a sustained period before the Voluntary Administration in April 2016.
The falling iron ore price had crippled the mining business after significant spending on expansion.There were board-room challenges with issues relating to financiers and external predators; the steelworks was losing money and suffering from under-investment; and the future of the operation was uncertain.
The OneWhyalla story of the Arrium admi…
Read the full article at: http://www.whyallanewsonline.com.au/story/4921069/how-the-steel-city-was-saved/
