OneSteel Manufacturing to invest $69m in Havilah Resources.

OneSteel Manufacturing, GFG Alliance member, to invest $69m in Havilah Resources, a copper-gold explorer. The investment consists of a staged equity investment over a three‐year period. Funds will be used for agreed work programs to advance the projects to completed definitive feasibility studies, as well as for exploration, corporate and administration costs. “This is an important step forward in realizing our vision for our landmark Next‐Gen steel plant and a copper smelter in Whyalla. We have been working with Havilah extensively since 2018, so this agreement is a strategic progression to create a streamlined partnership into the future. This investment has the potential to deliver significant iron ore feedstock reinforcing our ongoing commitment to support the future of Whyalla as a major steel producer. Havilah’s copper projects can also help underpin key feedstock needed for the copper smelter project we are exploring in Whyalla.” Sanjeev Gupta, GFG Alliance, Executive Chairman.