Great Britain races to secure coal to keep British steel ovens in operation

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In the British officials, they strive to ensure access to coal and iron ore accessories to ensure that the last two remaining blast furnaces remain in operation after the British steel has been adopted.

British officials have been at the company of the company since Saturday and are working closely with the local management of British Steel to secure new loads from Coke and Iron Ore for the continuation of production, the Ministry of Economic Affairs and Trade said on Monday.

The government races to prevent the blast furnaces from cooling so far that it can no longer run. It is not impossible to switch them on again, but a costly and lengthy process.

A shipping of coal that had to build the ovens was docked into the port of Immingham in Lincolnshire on Sunday after, according to two people who were informed about the situation, British Steel, the Chinese owner of the Jingye Group, was not paid but not paid.

The closure of British Steel’s two ovens in Scunhorpe would be the only G20 country without the opportunity to leave steel from scratch.

Prime Minister Sir Keir Starrer undertook the extraordinary step on Saturday to call parliament during Easter friendliness to say goodbye to emergency legislation so that Great Britain could apply control over operations in British Steel von Jingye.

The new law gives government powers, management and workers in the system to ensure that production continues.

While Jingye is still the main shareholder for the time being, legislation is an important step on the way to nationalization of the British steel.

“My team is already working hard on the ground to keep jobs to burn,” said Business Secretary Jonathan Reynolds on Monday. “We will create a long -term plan to take part with the private sector to ensure that steel in Great Britain has a bright and sustainable future.”

At the weekend, Reynolds said that his preferred option is to find a partner of the private sector to finance British Steel’s transformation, but the more likely option was full nationalization.

He said that the shareholders would receive a fair market set in the event of nationalization, but added: “In this case, the market value is effectively zero.”

One officer said there were other means of transport to Great Britain, and the government works for getting arriving in the Scunhorpe plant.

British Steel also evaluated whether it was possible to reverse a decision from Jingye’s executives in order to temporarily idle one of the stoves, said one of the people familiar with the matter.

Steelmaker’s local management considered to work with other industry players to secure raw materials.

According to the government, more than a dozen companies had supported the company in the past 24 hours, including Tata and Rainham Steel.

The ministers have intervened to preserve primary steel production in Great Britain and protect 3,500 jobs in the industry.

Reynolds could not confirm on Sunday that the government would definitely be able to procure enough raw materials to burn the stoves.

He said that Jingye’s “conscious decision” to sell existing raw material supply was the main change that the government had to intervene in order to intervene.

Reynolds recognized the sensitivity of the steel industry towards strategic national interests and said: “I would not personally bring a Chinese company to our steel sector.”

When asked whether there is a “high level of trust” for Chinese companies that control companies in Great Britain, he said: “Yes, we have to recognize that.”

Reynolds said Sky News whether the government of Chinese could trust British Steel after Jingye’s handling of British, in which sectors they are operated.

He said: “I think we have to make it clear what type of sector we can actually promote and cooperate, and those that we cannot do where we cannot.”

The government’s intervention has a new examination of the decision of the former conservative administration to sell the last strategic steel group in Great Britain to a Chinese company in 2020.

Nigel Farage, leader of the UK reform, said Jingye was clearly “a bad actor” and criticized the Tories and said the BBC on Sunday: “They effectively gave a foreign opponent a strategic industry.”

Jingye did not immediately answer a request for a comment.