BHP at Port Kembla used to roll rails and other long products before the production of these items was taken over by Whyalla but that was a long time ago.
I don't know what the answer is but I see no point in governments pouring buckets of money into private enterprise activities as sooner or later they will take the money, strip the assets and walk.
Somewhere, somehow there has to be a balance between privatising the profits and socialising the costs. The organisations that came anywhere near socialising the profits like CSL and Telstra have long gone.
In my days of buying rails ages ago BHP sadly treated its customers like dirt. You should be honoured that we will roll your rails but they will be only to our profiles and we will roll them when it suits us 'sometime late next year'!
Have things changed?