Australia Markets closed

Arrium gets strong interest for mining biz

Steel and mining group Arrium says it has received strong interest for its mining consumables business, and is shortlisting parties to undertake due diligence.

The struggling company, which announced in August it was undertaking a strategic review to cut its debt, has been hit hard by the plunge in iron ore prices and posted a full year loss of $1.9 billion for 2014/15.

Arrium said it is also continuing to look at other options for its debt structure. Its next significant maturity of debt falls due in the 2018 financial year.