NZ Steel-owner BlueScope doubles profits, rewards shareholders
The New Zealand and Pacific operations still posted a loss, although outlook was positive with progress made on NZ Steel's electric arc furnace build.
BlueScope exited its joint venture with Indian conglomerate Tata during the reporting period.
Profits have more than doubled at trans-Tasman steel producer BlueScope, driven by asset sales and also by higher volumes and AI-enabled cost control.
The ASX-listed company – which fended off a A$13.2 billion ($15.4b) takeover offer from a consortium of Australian investor SGH and US-based Steel
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