Exhibit 4.17

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED WITH RESPECT TO CERTAIN PORTIONS OF THIS AGREEMENT. CONFIDENTIAL PORTIONS HAVE BEEN OMITTED AND FILED SEPARATELY WITH THE U.S. SECURITIES AND EXCHANGE
COMMISSION.



LOGO



|                                                                                                                                  |  |                                                                          
|--------------------------------------------------------------------------------------------------------------------------------- |  | -------------------------------------------------------------------------
|Penny Bishop Senior Vice
President Institutional Banking & Markets Telephone:     +61 2 9118 4132
Facsimile:      +61 2 9118 4003 |  | Level 21 Darling Park Tower 1 201 Sussex Street Sydney NSW 2000
Australia



|                                        |  |                               
|--------------------------------------- |  | ------------------------------
|Mr Peter Ricketts                       |  | CC: Mr Robert Larry           
|Group Senior Vice President             |  | Global Chief Financial Officer
|Treasury, Financial Strategy & Planning |  | Sims Metal Management Limited 
|Sims Metal Management Limited           |  | 325 North LaSalle Street      
|Suite 1202, Level 12                    |  | Suite 550                     
|65 Berry Street                         |  | Chicago, IL 60610             
|North Sydney NSW 2060                   |  | United States of America      
|Australia                               |  |                               

22 June 2012

Dear Peter,

Renewal Notice

A$450m Multi Option Facility Agreement dated 2 November 2009, as amended from time to time, between Sims Metal Management Limited
and related companies and the Commonwealth Bank of Australia

We refer to the multi-option facility agreement dated 2 November 2009,
as amended from time to time, between each party listed in Schedule 1 of that agreement (as Borrowers) and the Commonwealth Bank of Australia (as Lender) (Facility Agreement).

Under clause 3.5 of the Facility Agreement we give you notice that the Lender has agreed to extend the Final Termination Date from 23 June 2014
(Existing Final Termination Date) to 31 October 2015 (New Final Termination Date), subject to the following conditions:



|a) | the Borrowers indicating their acknowledgement and agreement to the extension of the Final Termination Date, by signing and delivering this notice to the Lender within
30 days of receiving it;
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|b) | The Borrowers indicating their acknowledgement and agreement to the Key Terms Schedule being amended and restated in the form set out in the Schedule to this notice, by
initialling the attached schedule and delivering the initialled schedule (attached to this notice) to the Lender within 30 days of receiving it; and
|-- | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|c) | [*].
|-- | ----



[*]
Confidential Treatment Requested



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LOGO

Subject to the above conditions being satisfied, we agree that on and from the Existing Final Termination Date:



|a) | the definition of Final Termination Date in clause 1.2 of the Facility Agreement shall be amended to be the New Final Termination Date;
|-- | -----------------------------------------------------------------------------------------------------------------------------------------



|b) | the Key Terms Schedule will be amended and restated in the form set out in the attached Schedule;
|-- | -------------------------------------------------------------------------------------------------



|c) | A term defined in the Facility Agreement has the same meaning when used in this Renewal Notice;
|-- | -----------------------------------------------------------------------------------------------



|d) | Clause 3.5 (a) of the Facility Agreement will now read as follows: on or before 31 October of each year, the Lender may review its participation under
this agreement. Following this review the Lender, at its absolute discretion, may offer to extend its participation under the Facility Agreement to a date falling 12 months after the Final Termination Date (New Termination Date) by delivering
to Sims a signed Renewal Notice attaching a proposed Key Terms Schedule and/or specifying a revised Margin (as defined in the Group Limit Facility) for the Overdraft Facility. The next Review and renewal of Commitment will occur on
31 October 2013.
|-- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



|e) | Clause 3.6 (a) of the Facility Agreement will now read as follows: On 31 October of each year, the Commitment for each Facility will be reset to an
amount expressed in the Commitment Currency for that facility (Revised Commitment) which in aggregate is equivalent to a total amount of A$450,000,000 (or such other amount as is agreed by the Lender (in its discretion) and Sims). The
next Annual reset of Commitment will occur on 31 October 2013.
|-- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



[*]
Confidential Treatment Requested



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Schedule  Amended and restated Key Terms Schedule





Part 1  Cash Advance Facility



|               |  |                                                               |  |       
|-------------- |  | ------------------------------------------------------------- |  | ------
|Facility       |  | Available.                                                    |  |       
|               |  |                                                              
|Facility Limit |  | Not applicable.                                               |  |       
|               | 
|Purpose        |  | Acquisition financing and for general corporate purposes.    
|               | 
|Margin         |  | The Margin determined in accordance with the following table:
|               |  |                                                              
|               |  | Gearing Ratio                                                 |  | Margin
|               |  |                                                              
|               |  | [*]                                                           |  | [*]   



[*]
Confidential Treatment Requested



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Part 2  Commercial Bills Facility



|                                       |  |                                                                                               |  |                                       
|-------------------------------------- |  | --------------------------------------------------------------------------------------------- |  | --------------------------------------
|Facility                               |  | Available.                                                                                    |  |                                       
|                                       |  |                                                                                              
|Facility Limit                         |  | Not applicable.                                                                               |  |                                       
|                                       | 
|Purpose                                |  | Acquisition financing and for general corporate purposes.                                    
|                                       | 
|Bill Acceptance / Endorsement Fee Rate |  | The Bill Acceptance / Endorsement Fee Rate determined in accordance with the following table:
|                                       |  |                                                                                              
|                                       |  | Gearing Ratio                                                                                 |  | Bill Acceptance / Endorsement Fee Rate
|                                       |  |                                                                                              
|                                       |  | [*]                                                                                           |  | [*]                                   



[*]
Confidential Treatment Requested



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Part 3  Credit Support Facility



|                                 |  |                                                                                         |  |                                 
|-------------------------------- |  | --------------------------------------------------------------------------------------- |  | --------------------------------
|Facility                         |  | Available.                                                                             
|                                 | 
|Facility Limit                   |  | Not applicable.                                                                        
|                                 | 
|Purpose                          |  | Acquisition financing and for general corporate purposes.                              
|                                 | 
|Credit Support Document Fee Rate |  | The Credit Support Document Fee Rate determined in accordance with the following table:
|                                 |  |                                                                                        
|                                 |  | Gearing Ratio                                                                           |  | Credit Support Document Fee Rate
|                                 |  |                                                                                        
|                                 |  | [*]                                                                                     |  | [*]                             



[*]
Confidential Treatment Requested



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Part 4  Trade Finance Facility



|                        |  |                                                               |  |       
|----------------------- |  | ------------------------------------------------------------- |  | ------
|Facility                |  | Available.                                                   
|                        | 
|Documentary LCs         |  | Available.                                                   
|                        | 
|Trade Advances          |  | Available.                                                   
|                        | 
|Proceeds of Negotiation |  | Available.                                                   
|                        | 
|Facility Limit          |  | Not applicable.                                              
|                        | 
|Purpose                 |  | The financing or refinancing of Obligations.                 
|                        | 
|Margin                  |  | The Margin determined in accordance with the following table:
|                        |  |                                                              
|                        |  | Gearing Ratio                                                 |  | Margin
|                        |  |                                                              
|                        |  | [*]                                                           |  | [*]   



[*]
Confidential Treatment Requested



---

Part 5  Overdraft Facility



|                   |  |                                                                                                                                                                                                                                                                                                              
|------------------ |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Facility           |  | Available.                                                                                                                                                                                                                                                                                                   
|                   | 
|Purpose            |  | Financing or supporting the working capital needs of the Sims Group.                                                                                                                                                                                                                                         
|                   | 
|Termination Date   |  | Not applicable.                                                                                                                                                                                                                                                                                              
|                   | 
|Overdraft Borrower |  | 1       Sims Group Australia Holdings Limited;

2       Sims Aluminium Pty Limited;

3       Sims Metal Management Ltd; and

4       any other entity agreed by the Lender to be an Applicant
for the purposes of the Group Limit Facility in accordance with paragraph (2)(g) of the Group Limit Facility.

Part A  A$ Facility



|                       |  |                 
|---------------------- |  | ----------------
|Facility               |  | Available.      
|                       | 
|Facility Limit         |  | A$52,250,000.   
|                       | 
|Final Termination Date |  | 31 October 2015.

Part B  US$ Facility



|                       |  |                 
|---------------------- |  | ----------------
|Facility               |  | Available.      
|                       | 
|Facility Limit         |  | US$241,500,000. 
|                       | 
|Final Termination Date |  | 31 October 2015.

Part C  GBP Facility



|                       |  |                 
|---------------------- |  | ----------------
|Facility               |  | Available.      
|                       | 
|Facility Limit         |  | GBP100,000,000. 
|                       | 
|Final Termination Date |  | 31 October 2015.



[*]
Confidential Treatment Requested



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Part D  General



|                       |         |                                                         |          |              |        |             
|---------------------- | ------- | ------------------------------------------------------- | -------- | ------------ | ------ | ------------
|Commitment             |         | A$ Facility                                             |          | US$ Facility |        | GBP Facility
|                       |         |                                                         | Millions |              |       
|                       | A$52.25 |                                                         | US$241.5 |              | GBP100
|                       |        
|Commitment Fee Rate    |         | On any date, [*] of the applicable Margin on that date.
|                       |        
|Final Termination Date |         | 31 October 2015.                                       
|                       |        
|Overdue Margin         |         | [*] per annum.                                         



[*]
Confidential Treatment Requested



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Lender

Signed for

Commonwealth Bank of Australia

by its attorney



|           |  |                       
|---------- |  | ----------------------
|sign hereu |  | /s/ Penelope Bishop   
|           |  | Attorney              
|           | 
|print name |  | Penelope Bishop       
|           | 
|           |  | in the presence of    
|           | 
|sign hereu |  | /s/ Katherine Morrison
|           |  | Witness               
|           | 
|print name |  | Katherine Morrison    







[*]
Confidential Treatment Requested



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Agreed and acknowledged by Sims on behalf of the Borrowers:

Signed for

Sims Metal Management Limited



|           |  |                           
|---------- |  | --------------------------
|sign hereu |  | /s/ Daniel W. Dienst      
|           |  | Director                  
|           | 
|print name |  | Daniel W. Dienst          
|           | 
|sign hereu |  | /s/ Frank Moratti         
|           |  | Director/Company Secretary
|           | 
|print name |  | Frank Moratti             







[*]
Confidential Treatment Requested