Sims Limited and Equest Steel Pty Ltd, trading as Alter Steel, have signed a non-binding Memorandum of Understanding (MOU) to support Alter’s planned electric arc furnace (EAF) project in Pinkenba, Queensland, slated to begin operations in 2028.
Under the proposed terms, Sims would exclusively supply up to 550,000 tons of ferrous scrap annually, manage scrap inventory on a just-in-time basis, and provide access to port and rail infrastructure through the phased development of its nearby Pinkenba site, located just 1km from Alter’s planned facility. The MOU will serve as the basis for a future binding agreement.
Alter Steel is investing over USD 750 mln to develop the Pinkenba steel mill, which will convert local scrap into 500,000 tons of rebar annually. The project aims to strengthen domestic manufacturing and provide low-carbon materials for infrastructure projects in Queensland and across Australia.
The Pinkenba project has already secured conditional development approval and a supplier agreement with global equipment provider Danieli.
Founded in 1917, Sims Limited is a global leader in metal recycling, with over 150 facilities across 13 countries.
