Source: United Press International
“British Culture Secretary Lisa Nandy said Wednesday that a deal to save British Steel is within sight as talks with Chinese owner Jingye continue. Nandy told the BBC that an agreement to make sure British Steel continues ‘to be an important part of our economy for years to come’ is ‘achievable and within sight.’ Nationalization is possible after Jingye said in March that British Steel’s Scunthorpe plant is no longer financially sustainable and is in danger of running out of raw materials within weeks. The British government has offered $639 million to Jingye to convert the plant to greener electric arc furnaces that can use scrap metal rather than raw materials. The company has rejected that and is reportedly asking for approximately $1.2 billion.” (04/09/25)
https://www.upi.com/Top_News/World-News/2025/04/09/steel-talks-Jingye-tariffs/7071744208768/