BlueScope to Expand US North Star Mill, Boosts Shareholder Returns

BlueScope Steel Ltd. (BSL) plans to expand its North Star Ohio mill to 3.3 million tons/year and grow premium coated steel sales in the U.S., funding growth organically. CEO Tania Archibald said the company will focus on shareholder returns, launching a A$310 million buyback and committing to distribute at least 75% of free cash flow. Following a rejected A$13.2 billion takeover bid, H1 underlying profit surged to A$382 million, with H2 EBIT forecasted at A$620–700 million. Shares fell 2.5% post-announcement.