The Whyalla Steelworks should not be pressured by Credit Suisse as it moves forward with its legal action against OneSteel Manufacturing.
This is according to Shadow Minister for Industry Ed Husic, who visited Whyalla on Thursday to to meet with workers, unions, Mayor Clare McLaughlin and local businesses.
Mr Husic was joined by Labor MLC Justin Hanson on a tour of the steelworks, after which he met with local representatives from the Australian Workers Union (AWU).
It comes as GFG Alliance Chairman Sanjeev Gupta faces a legal action by Citibank, on behalf of Credit Suisse, who were impacted by the administration of GFG financial backer Greensill Capital.
Mr Husic said he had written to Industry Minister Christian Porter asking for a briefing and urging the government to do everything it can to ensure the future of the Whyalla Steelworks
"I don't want Credit Suisse to be over-compensating for other decisions by pressuring Whyalla operations too hard. Keeping the business operating and producing world-class steel needs to be the number one priority."
"Steel from Whyalla has supplied major infrastructure projects such as Sydney's WestConnex and Brisbane's cross-river rail, and its continued operation is integral to future nation building projects."
Mr Husic said Labor saw a strong future for steel manufacturing In Australia, with the steelworks to be a key contributor in the future.
"Our plans for Aussie made rail plus our recently announced $15bn National Reconstruction Fund reflect our determination to strengthen Aussie manufacturing," he said.
Labor representatives, including Mr Husic, Shadow Minister for Climate Change Chris Bowen and Shadow Treasurer Jim Chalmers recently visited Bluescope Steel at Port Kembla to push for better job security for steel workers.