Greensteel Australia Invests $500 Million in Electric Steel Mill

Greensteel Australia announced a $500 million investment to construct an all-electric steel mill at the former BHP Newcastle Steelworks site in Mayfield North. Scheduled to be operational by January 2028, the facility will be the first new steel mill built in Australia in over 30 years. Using induction furnace technology from Italy's Danieli Group, the plant will eliminate gas use and direct carbon dioxide emissions to produce up to 600,000 tonnes of finished steel annually for the energy, transport, and housing sectors.

Led by brothers Romany and Mena Ibrahim, the company plans to employ over 200 full-time staff in the first stage, with a second phase projected to add 500 to 1,000 additional jobs. Greensteel is prioritizing the hiring and upskilling of local workers, particularly those displaced by previous industrial closures in the Hunter region, through a partnership with Danieli for technical training.

Company leadership attributed the project's viability to the Future Made in Australia agenda and support from the New South Wales and federal governments. The initiative aims to bolster sovereign capability and support national targets to build 1.2 million new homes. The proposal has received support from Business Hunter and the Australian Manufacturing Workers Union, with the latter advocating for local steel mandates.