Exhibit 99.2
 Rule 2.7, 3.10.3, 3.10.4, 3.10.5
 Appendix 3B
 New issue announcement,
application for quotation of additional securities
and agreement
 Information or documents not available now must be given to ASX as soon as available.
Information and documents given to ASX become ASXs property and may be made public.
   SIMS METAL MANAGEMENT LIMITED
    Part 1  All issues
 You must complete the relevant sections (attach sheets if there is not enough space).
 1
    
    +Class of +securities issued or to be issueOrdinary shares2
    
    Number of +securities issued or to be issued (if known)
or maximum number which may be issued8,354
 
 +
    
    See chapter 19 for defined terms. 24/10/2005 Appendix 3B Page 1




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Appendix 3B
New issue announcement
 3
    
    Principal terms of the +securities (eg, if options,
exercise price and expiry date; if partly paid
+securities, the amount outstanding and due dates for
payment; if +convertible securities, the conversion price
and dates for conversion)Fully paid ordinary shares
 
 +
    
    See chapter 19 for defined terms. Appendix 3B Page 2
    
    24/10/2005




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4
    
    Do the +securities rank equally in all respects from the
date of allotment with an existing +class of quoted
+securities?If the additional securities do not rank equally, please state:
 
    
    the date from which they do
    
    the extent to which they participate for the next
dividend, (in the case of a trust, distribution) or interest
payment
    
    the extent to which they do not rank equally, other than
in relation to the next dividend, distribution or interest
payment
 Yes5
    
    Issue price or considerationN/A6
    
    Purpose of the issue
(If issued as consideration for the acquisition of assets,
clearly identify those assets)Issue of fully paid ordinary shares pursuant to the vesting
of restricted stock units under the Sims Metal Management Long
Term Incentive Plan.7
    
    Dates of entering +securities
into uncertificated holdings or despatch
of certificates5 July 2011
 
 +
    
    See chapter 19 for defined terms. 1/1/2003
    
    Appendix 3B Page 3




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Appendix 3B
New issue announcement
 8
    
    Number and +class of all
+securities quoted on ASX
(includingthe securities in clause 2 if
applicable)
 Number
    
    
    +Class205,403,935
    
    
    Fully paid ordinary shares
 
 +
    
    See chapter 19 for defined terms. Appendix 3B Page 4
    
    24/10/2005




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9
    
    Number and +class of all +securities not quoted on ASX (includingthe
securities in clause 2 if applicable)
 Number
    
    +Class2,184,932
    
    
    performance rights and restricted stock units [SGMAI]
(this is the maximum number of ordinary shares and
ADSs, collectively, which may be issued pursuant to
the performance rights and restricted stock units
assuming that the performance hurdles are met under
the SimsMM Plan or the former Sims Metal Management
Long Term Incentive Plan or individual contracts.4,578
    
    
    restricted stock units [SGMAM]
(issued to certain executives under the former Sims
Metal Management Long Term Incentive Plan and
individual contracts- this is the maximum number of
ordinary shares which may be issued pursuant to the
restricted stock units assuming that (where
applicable) all the performance hurdles are met and
service pre-requisites are satisfied.615,000
    
    
    options [SGMAK]
(issued to certain executives that were formerly
executives of Metal Management Inc (MMI) under the
former MMI 2002 Incentive Plan and that are
outstanding under the Sims Metal Management Limited
Transition Incentive Stock Plan  this is the
maximum number of ordinary shares which may be
issued pursuant to the exercise of options.226,799
    
    
    options exp 24/11/ 2015 [SGMAK]
(issued to executive directors pursuant to the
SimsMM Plan  this is the maximum number of ordinary
shares and ADSs, collectively, which may be issued
pursuant to the exercise of options).322,949
    
    
    options exp 2/04/2016 [SGMAK]
(issued to certain executives pursuant to the SimsMM
Plan  this is the maximum number of ordinary shares
and ADSs, collectively, which may be issued pursuant
to the exercise of options).901,564
    
    
    options exp 17/06/2016 [SGMAK]
(issued to certain executives pursuant to the SimsMM
Plan  this is the maximum number of ordinary shares
and ADSs, collectively, which may be issued pursuant
to the exercise of options).7,121
    
    
    options exp 22/10/2016 [SGMAK]
(issued to executive pursuant to the SimsMM Plan 
this is the maximum number of ordinary shares and
ADSs, collectively, which may be issued pursuant to
the exercise of options)
 
 +
    
    See chapter 19 for defined terms. 1/1/2003
    
    Appendix 3B Page 5




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Appendix 3B
New issue announcement
 Number
    
    +Class937,287
    
    
    options exp 23/11/ 2016 [SGMAK]
(issued to certain executives, including the executive director, pursuant
to the SimsMM Plan  this is the maximum number of
ordinary shares and ADSs, collectively, which may be issued pursuant to the
exercise of options).203,908
    
    
    options exp 22/11/ 2017 [SGMAK]
(issued to executive pursuant to the SimsMM Plan  this is the maximum
number of ADSs which may be issued pursuant to the exercise of options)824,541
    
    
    options exp 30/11/2017 [SGMAK]
(issued to executive pursuant to the SimsMM Plan  this is the maximum
number of ordinary shares and ADSs, collectively, which may be issued
pursuant to the exercise of options)16,499
    
    
    options exp 17/12/2017 [SGMAK]
(issued to executive pursuant to the SimsMM Plan  this is the maximum
number of ADSs which may be issued pursuant to the exercise of options)
 
 +
    
    See chapter 19 for defined terms. Appendix 3B Page 6
    
    24/10/2005




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10
    
    Dividend policy (in the case of a trust, distribution policy) on the increased
capital (interests)N/A
 Part 2   Bonus issue or pro rata issue
 11
    
    Is security holder approval required?N/A12
    
    Is the issue renounceable or non-renounceable?N/A13
    
    Ratio in which the +securities will be offeredN/A14
    
    +Class of +securities to which the offer relatesN/A15
    
    +Record date to determine entitlementsN/A16
    
    Will holdings on different registers (or subregisters) be
aggregated for calculating entitlements?N/A17
    
    Policy for deciding entitlements in relation to fractionsN/A18
    
    Names of countries in which the entity has +security
holders who will not be sent new issue documentsNote: Security holders must be told how their entitlements are
to be dealt with.Cross reference: rule 7.7.N/A19
    
    Closing date for receipt of acceptances or renunciationsN/A
 
 +
    
    See chapter 19 for defined terms. 1/1/2003
    
    Appendix 3B Page 7




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Appendix 3B
New issue announcement
 20
    
    Names of any underwritersN/A21
    
    Amount of any underwriting fee or commissionN/A22
    
    Names of any brokers to the issueN/A23
    
    Fee or commission payable to the broker to the issueN/A24
    
    Amount of any handling fee payable to brokers who lodge
acceptances or renunciations on behalf of +security
holdersN/A25
    
    If the issue is contingent on +security holders
approval, the date of the meetingN/A26
    
    Date entitlement and acceptance form and prospectus or Product
Disclosure Statement will be sent to persons entitledN/A27
    
    If the entity has issued options, and the terms entitle option
holders to participate on exercise, the date on which notices will
be sent to option holdersN/A28
    
    Date rights trading will begin (if applicable)N/A29
    
    Date rights trading will end (if applicable)N/A30
    
    How do +security holders sell their entitlements in full
through a broker?N/A31
    
    How do +security holders sell partof their entitlements
through a broker and accept for the balance?N/A
 
 +
    
    See chapter 19 for defined terms. Appendix 3B Page 8
    
    1/1/2003




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32
    
    How do +security holders dispose of their entitlements
(except by sale through a broker)?N/A33
    
    +Despatch dateN/A
 Part 3  Quotation of securities
 You need only complete this section if you are applying for quotation of securities
 34
    
    Type of securities(tick one)
 (a)
    
    þ
    
    Securities described in Part 1(b)
    
    o
    
    All other securitiesExample: restricted securities at the end of the escrowed period,
partly paid securities that become fully paid, employee incentive
share securities when restriction ends, securities issued on expiry or
conversion of convertible securities
 Entities that have ticked box 34(a)
 Additional securities forming a new class of securities
 Tick to indicate you are providing the information or documents
 35
    
    o
    
    If the +securities are +equity securities, the
names of the 20 largest holders of the additional
+securities, and the number and percentage of additional
+securities held by those holders36
    
    o
    
    If the +securities are +equity securities, a
distribution schedule of the additional +securities
setting out the number of holders in the categories1  1,000
1,001  5,000
5,001  10,000
10,001  100,000
100,001 and over37
    
    o
    
    A copy of any trust deed for the additional +securities
 
 +
    
    See chapter 19 for defined terms. 1/1/2003 Appendix 3B Page 9




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Appendix 3B
New issue announcement
 Entities that have ticked box 34(b)
 38
    
    Number of securities for which +quotation is soughtN/A39
    
    Class of +securities for which quotation is soughtN/A40
    
    Do the +securities rank equally in all respects from the
date of allotment with an existing +class of quoted
+securities?If the additional securities do not rank equally, please state:
 
    
    the date from which they do
    
    the extent to which they participate for the next
dividend, (in the case of a trust, distribution) or interest
payment
    
    the extent to which they do not rank equally, other than
in relation to the next dividend, distribution or interest payment
 N/A41
    
    Reason for request for
quotation now

Example: In the case of restricted securities, end of
restriction period

(if issued upon conversion of another security, clearly
identify that other security)N/A42
    
    Number and +class of all +securities quoted on
ASX (includingthe securities in clause 38)
 Number
    
    +ClassN/A
    
    
    N/A
 Quotation agreement
 1
    
    +Quotation of our additional +securities is in ASXs absolute discretion.
ASX may quote the +securities on any conditions it decides.
 
 +
    
    See chapter 19 for defined terms. Appendix 3B Page 10
    
    1/1/2003




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2
    
    We warrant the following to ASX.
 
    
    The issue of the +securities to be quoted complies with the law and is not
for an illegal purpose.
 
    
    There is no reason why those +securities should not be granted
+quotation.
 
    
    An offer of the +securities for sale within 12 months after their issue
will not require disclosure under section 707(3) or section 1012C(6) of the
Corporations Act.
 Note: An entity may need to obtain appropriate warranties from subscribers for
the securities in order to be able to give this warranty
 
    
    Section 724 or section 1016E of the Corporations Act does not apply to any
applications received by us in relation to any +securities to be quoted and
that no-one has any right to return any +securities to be quoted under
sections 737, 738 or 1016F of the Corporations Act at the time that we request that the
+securities be quoted.
 
    
    If we are a trust, we warrant that no person has the right to return the
+securities to be quoted under section 1019B of the Corporations Act at the
time that we request that the +securities be quoted.
 3
    
    We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action
or expense arising from or connected with any breach of the warranties in this agreement.
 4
    
    We give ASX the information and documents required by this form. If any information or
document not available now, will give it to ASX before +quotation of the
+securities begins. We acknowledge that ASX is relying on the information and
documents. We warrant that they are (will be) true and complete.
 Sign here:
    
    /s/ Frank Moratti
    
    Date: 05/07/2011(Company secretary)Print name:
    
    Frank Moratti
  
 +
    
    See chapter 19 for defined terms. 24/10/2005 Appendix 3B Page 11