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Gupta calls Whyalla a spiritual home in race against time Save Share Steel magnate Sanjeev Gupta has stepped up a public charm offensive while he frantically tries to cement replacement funding for his teetering global empire, calling Whyalla his “spiritual home” and saying the steelworks and mining operations are benefiting from “strong tailwinds” in steel and iron ore markets. In an open letter to people in South Australia, where he bought the Whyalla steelworks in mid-2017 after it was under administration for 16 months following the collapse of Arrium Ltd, he said he was “moving in the right direction” in the refinancing efforts. He is attempting to refinance between $400 million to $500 million for the steelworks and the Tahmoor coal operations in NSW which sit together in one of his Australian companies.

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