SIMEC Group
{{short description|British international energy and mineral resources group; part of GFG Alliance}}
{{Use dmy dates|date=November 2020}}
{{Infobox company
| name = SIMEC Group Ltd
| logo = SIMEC Logo.jpg
| type = Private
| industry = {{Unbulleted list |Mining |Energy |Shipping|Infrastructure |Commodities trading}}
| fate =
| predecessor =
| successor =
| founded = 1996
| founder = Parduman K. Gupta
| defunct =
| hq_location_city = London
| hq_location_country = England
| areas_served = Businesses at 200 locations; trading business in 60 countries
| key_people = Sanjeev Gupta
| products =
| owners = Members of the Gupta family
| num_employees = More than 11,000
| num_employees_year = 2018
| parent =
| website = {{URL|https://www.simec.com/}}
}}
SIMEC Group Ltd is a British international energy and natural resources business focused on resources, sustainable power, infrastructure, and commodities trading. It is part of the GFG Alliance, which is owned by members of the Gupta family.
History
The group was founded in 1996 by Parduman K. Gupta,{{cite web |url= https://www.gfgalliance.com/about-us/our-history/ |title= Our History |author= |date= 2020 |website= GFG Alliance |access-date= 20 November 2020}} whose son, Sanjeev Gupta, had established Liberty House Group in 1992.{{cite web|title=Company Overview of Liberty House Ltd.|url=https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=141454067|website=Bloomberg|publisher=Bloomberg|accessdate=7 April 2016}}
In 2013, SIMEC Group refocused itself, mainly on sustainable power, mining, and infrastructure.
In 2016 SIMEC had an annual turnover of almost USD2.5 billion and net assets of USD350 million.{{cn|date=February 2025}} {{as of|2018}} it was trading in 60 countries, with 200 locations.{{cite web |url= https://www.businesstoday.in/magazine/the-hub/sanjeev-gupta-liberty-house-nri-billionaire-gupta-family-group-alliance/story/278884.html |title= Stress reliever |first= Nevin | last= John |date= 1 July 2018|website=Business Today|access-date= 20 November 2020 }}
Description
The SIMEC Group (along with Liberty Steel Group) is an independent company within the GFG Alliance, of which Sanjeev Gupta became executive chairman.{{cite web |url=https://www.abc.net.au/news/2017-09-20/sanjeev-gupta-buys-controlling-stake-in-renewables-firm/8964448 |title= Whyalla steelworks owner Sanjeev Gupta buys majority stake in renewable firm Zen Energy|date= 20 September 2017 |accessdate= 20 November 2020 }} The company is focused on resources, sustainable power, infrastructure, and commodities trading,{{cite web |url= http://www.simec.com/ |title= SIMEC Group |author= |date= 2020 |website= SIMEC Group |access-date= 20 November 2020 }} Its activities span renewable energy generation, mining, shipping, and commodities trading.{{cite web |url= http://www.simec.com/company/ |title= About us|author= |date= 2020 |website= SIMEC Group |access-date= 20 November 2020}}
SIMEC Group in Australia
Among many developments since then, in 2017 it acquired Arrium Mining and OneSteel operations in South Australia for USD750 million. The mining assets of the former company included iron ore (magnetite and haematite) mines in the Middleback Range{{cite web |url=http://www.arrium.com/ |title=Arrium Acquired by GFG Alliance |quote=GFG Alliance has completed the acquisition of the Arrium Mining and Steel businesses ... the former Arrium Mining has been renamed SIMEC Mining and OneSteel re-branded as Liberty OneSteel |accessdate=11 December 2018 |date=1 September 2017}}{{cite web |url=http://www.energymining.sa.gov.au/minerals/mining/mines_and_quarries/middleback_ranges |title=Middleback Ranges |work=Mines and Quarries |publisher=Government of South Australia Department for Energy and Mining |accessdate=11 December 2018}} and a dolomite mine (to supply blast furnace flux) at Ardrossan, South Australia.{{cite web |url=https://sarigbasis.pir.sa.gov.au/WebtopEw/ws/samref/sarig1/image/DDD/MP3752664.pdf |title=Ardrossan Dolomite Operation |work=Retention Lease Proposal |publisher=SIMEC Mining |via=Government of South Australia |date=March 2018 |accessdate=11 December 2018}}
In 2017, GFG Alliance purchased Arrium's Whyalla Steelworks in South Australia, announcing that a new AUD600 million investment would lift production to 1.8 million tonnes a year. In 2018 the company announced it would build a new steel manufacturing plant next to the existing one. It would be capable of producing 10 million tonnes a year – making it the largest in the western world – and have infrastructure to eventually double that capacity.{{cite news |url=https://www.australianmining.com.au/news/gfg-alliance-drives-sa-iron-ore-with-whyalla-steel-expansion/ |title=GFG Alliance drives SA iron ore sector with Whyalla steel expansion |date=11 December 2018 |first=Ewen |last=Hosie |newspaper=Australian Mining |accessdate=11 December 2018}}
SIMEC Mining acquired mining leases in 2018 for the Iron Sultan and Iron Warrior mines in the Middleback Range, {{cvt|50|km}} south-west of Whyalla, reflecting the need for significant sources of iron ore for its expanding capacity.
Another member of GFG Alliance, SIMEC Energy Australia Pty Ltd, acquired a controlling stake in South Australian renewable energy and storage technologies company, ZEN Energy Pty Ltd, in 2017 and formed a joint venture named SIMEC Zen Energy. Sanjeev Gupta said his company was investing in large-scale power projects to meet its own industrial requirements.
References
{{reflist}}
Category:Energy companies of the United Kingdom
Category:Energy companies established in 1996
Category:1996 establishments in England
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