UK Government Takes Emergency Control of British Steel’s Last Blast Furnaces
Parliament passed urgent legislation to secure 2,700 jobs and safeguard national steel production after failed negotiations with Chinese-owned Jingye.
- The UK Parliament passed emergency legislation on Saturday, enabling the government to take control of British Steel's Scunthorpe operations to prevent imminent closure.
- The intervention aims to preserve 2,700 jobs and maintain the UK’s domestic steel production capacity, which faced potential collapse.
- British Steel, owned by China’s Jingye Group, announced in March plans to shut down its two blast furnaces in June due to daily losses of £700,000 and challenging market conditions.
- Negotiations with Jingye failed as the company sought significantly higher financial support, reportedly demanding hundreds of millions of pounds.
- The move raises broader questions about the future of the UK steel industry, with nationalization now considered a probable option to ensure long-term viability.
L'Express 
Ouest-France 
l'Opinion 
Le Figaro 
Courrier International 