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UK magnate plans Australian steelworks overhaul

Industrialist plans to invest 'more than A$1bn' in aging Whyalla plant

High level iron ore production continues in Australia

SYDNEY -- British industrialist Sanjeev Gupta is planning a major overhaul of the aging Whyalla steelworks in South Australia after his GFG Alliance group agreed to buy the heavily indebted Australian mining and steel business Arrium out of administration.

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