GFG Alliance to close Liberty Bell Bay smelter
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- GFG Alliance will immediately shut down its Liberty Bell Bay manganese smelter following the collapse of a potential sale agreement.
- Administrators at EY Parthenon confirmed that exclusive acquisition negotiations with a buyer consortium ended without a deal.
- The closure leaves the facility operating with only a small residual workforce to demobilise the site and manage remaining assets.
GFG Alliance's Liberty Bell Bay manganese smelter will be closed immediately after its administrators at EY Parthenon confirmed that an ongoing sales process collapsed.
The administrators had entered an agreement in May with a consortium consisting of Adroit Capital Group and White Oak Global Advisors for exclusive negotiations.
“This is an incredibly disappointing outcome for employees, their families and the wider Bell Bay community,” said EY Parthenon Administrator Morgan Kelly.
The prospective buyer group informed administrators on July 15 that it had ceased pursuing the acquisition due to difficulties with key operational enabling arrangements.
In the absence of funding to maintain operations, the business initiated site shut-down procedures and notified employees of upcoming redundancy consultations.
The remaining skeleton workforce will focus on safely demobilising the facility, liquidating physical assets, and fulfilling ongoing environmental obligations.