South Australia’s Whyalla Steelworks has faced major challenges in recent months. This paper outlines the unique importance of the Whyalla Steelworks, and explains why a significant intervention by policymakers is likely the best choice ahead to ensure the operation is sustained and Australia’s sovereign manufacturing capacity is preserved. 

The paper identifies the Steelworks as an asset of broad national significance, critical to Australia’s economic and national sovereignty. It represents Australia’s only manufacturer of long-steel products which are integral to transport, housing and infrastructure projects. This means that it also represents a bulwark against strategic coercion from potential adversaries. Its significance is compounded by the fact that Australia has become more, not less, dependent on Chinese long steel products.

Any intervention should guarantee the continuity of work for the employees of the Steelworks, and ensure the continuity of operations of the asset to provide long-term certainty.