OneSteel Manufacturing, the Gupta company which owns and operates the steel mill, lost $195m in the 2018 financial year

On a sunny Sydney afternoon, things look good from Sanjeev Gupta’s office on the 28th floor. From one window you can see the $35m waterside mansion he bought last week as an Australian bolthole for his family; from the other, the south end of the Harbour Bridge looms large.

But 1,500km west of Gupta’s blindingly white office suite, at the Whyalla steel mill in South Australia, things are decidedly grittier.

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Read More Trouble at the mill: Sanjeev Gupta on Whyalla and its 'fundamental problems'

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