Lincoln Minerals is lining up key partnerships for its Green Iron project,which has a 1.2 billion-tonne magnetite deposit,on South Australia’s Eyre Peninsula.
Climate action is finally coming to Whyalla,the South Australian industrial town Tony Abbott said would be wiped off the map.
The steel tycoon and the Swiss bank say they are confident of reaching an agreement that would see the bank repaid in full for its Greensill debt.
Greensill Capital founder Lex Greensill will be publicly grilled by British politicians this week.
GFG Alliance said the new financing arrangement would help it pay out the billions in debts it owes to Greensill in full.
In 2017,Sanjeev Gupta was the toast of Whyalla after buying its decades-old steel plant out of administration and announcing a more than $1 billion upgrade. But so far there’s little to show for it. It’s a story that has been repeated across his steel and aluminium empire.
Credit Suisse has been embroiled in a series of financial disasters that could have been avoided had it learned from its compatriot,UBS.
Lex Greensill,the founder of Greensill Capital,could be hauled before public examinations by liquidators as they probe the reasons behind the $9 billion company’s unexpected collapse.
The owner of the Whyalla steel mill says it is close to sealing a refinancing deal that may quell a push by creditor Credit Suisse to place it in liquidation.
Court action filed on Tuesday shows the investment bank and key lender to failed financier Greensill is playing hardball with billionaire tycoon Sanjeev Gupta’s assets.
Administrators told the first meeting of creditors that no ‘rescue package’ or deed of company arrangement had been put forward to save the group from liquidation.