Arrium was initially listed on the ASX as OneSteel Limited in 2000 following its spin-off from BHP. At that time, it was solely a domestic steel long products manufacturer and distributor of steel products throughout Australia and New Zealand.
A significant milestone in the company’s history occurred in 2005 when the Board decided to diversify into the resource sector, which included an investment of approximately $400 million to convert the Whyalla Steelworks to magnetite iron ore feed, thereby creating a new revenue stream for the company by freeing up hematite iron ore for export sales. This investment led to sales of approximately four million tonnes per annum, and together with further work to optimise the supply chain, export iron ore sales increased to more than six million tonnes per annum quickly, and for minimal capital investment.
Another Arrium milestone was its acquisition of the Smorgon Steel Group in 2007. Included in the acquisition were some mining consumables businesses, including a grinding media business in Australia, which built on Arrium's existing position in mining consumables. These businesses are also leveraged to the strong global resources sector particularly copper, gold and iron ore.
Building on the success of these businesses, Arrium acquired the Moly-Cop Group mining consumables business from Anglo American plc. at the end of 2010. This acquisition positioned Arrium as the global leader in grinding media, with participation in some of the world’s largest and most attractive mining consumables markets, as well as providing Arrium with a platform for further growth in mining consumables.
The next significant milestone in Arrium's history was the 2011 acquisition of the subsidiaries owning the iron ore assets of WPG Resources Limited in South Australia. This commenced the investment that led to the subsequent doubling of the Mining business in mid 2013, including reaching an iron ore export sales rate of 12Mtpa and a doubling of the Whyalla Port capacity to 13Mtpa. This makes Arrium one of the largest exporters of iron ore in Australia, outside the three majors.