Arrium’s origins lie with mining giant BHP Billiton, from which it was spun off in 2000 as OneSteel, when it was largely a domestically focused steel maker. Since then it focused on growing its resources and recycling business, and changed its name in July 2012 to Arrium. In September 2012, a consortium called Steel makers Australia, and included National Pension Service of Korea, Korea Investment Corp and Korea Finance Corp, made a bid for Arrium which was rebuffed.