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Troubled steelmaker Arrium to take A$40M hit over South Australia blackout

Arrium Ltd. could face up to A$40 million in costs following South Australia's statewide power outage caused by storms, which in turn forced suspensions across several industrial operations in the state, Bloomberg News reported Oct. 2, citing a spokesman for the company's administrators KordaMentha.

The steelmaker has been under voluntary administration since April.

Arrium's Whyalla steelworks and the mining of iron ore to feed the mill have been halted since the blackout on Sept. 28, and it is estimated the company has been losing daily production of 3,500 tonnes of steel since then.

KordaMentha spokesman Michael Smith told Metal Bulletin that operations will remain suspended until Oct. 11.

Transmission company ElectraNet expects to bring one of the damaged lines in the state back up again by the end of next weekend, while another will be restored several days after that. The power supply remains dependent on one undamaged circuit.

The report also noted that BHP Billiton Group's Olympic Dam and OZ Minerals Ltd.'s Prominent Hill gold-copper mine in the Australian state remain offline following the outage.

Nyrstar NV also flagged that its metals processing segment EBITDA will be affected by about €3 million to €5 million following the statewide power loss that led to an outage at its Port Pirie zinc-lead smelter.