Two international groups remain in the running to buy troubled steel producer Arrium.

Administrator Mark Mentha says the offers from the two shortlisted bidders were received on Wednesday night with both seeking to buy all of the company’s Australian operations.

He said the offers would be reviewed and compared and he expected there to be talks with the bidders, governments and key stakeholders.

“This is a complex business and the offers have many conditions to be worked through,” Mr Mentha said in a statement on Thursday.

The administrators previously indicated a desire to have the bid process finalised by June 30.

Arrium went into voluntary administration in 2016 amid escalating debts and sustained low commodity prices after negotiations with its lenders failed.

The South Australian government has pledged $50 million to support the company, in particular its Whyalla steelworks, and has called on the commonwealth to also provide assistance.

The federal government has so far resisted making any direct financial commitment but has pledged to buy Arrium steel for some key government projects.


By Prashant Mehra