The UK government has expressed confidence that it can secure the necessary raw materials to keep Britain’s last major steel producer, British Steel, operating. After seizing operational control from its Chinese owners, Jingye Group, ministers said they had enough iron ore, pellets, and coking coal in the country.
Two shipments of raw materials have docked at a local port, with a third on its way. The government has appointed an interim chief executive and chief commercial officer, both long-term employees of the plant, to ensure “consistent and professional leadership” at the facility.
The decision comes after Jingye Group wanted to shut down the loss-making Scunthorpe plant due to rejection of a government funding proposal. Without the plant, Britain would be reliant on imports, which could strain ties with China.
The Chinese embassy in London has urged the British side to act fairly and protect its legitimate rights and interests. Beijing’s foreign ministry has also warned against politicizing trade to protect the confidence of Chinese investors.
British Steel is struggling due to an over-supplied global market and rising energy costs. The closure of the blast furnaces would leave Britain as one of only a few G7 wealthy nations unable to produce virgin steel from iron ore, coking coal, and other inputs.
Source: https://www.reuters.com/world/uk/uk-confident-keeping-british-steel-going-after-taking-control-2025-04-14