British Steel's Strategic Pivot

In a significant turnaround, British Steel Ltd., under the ownership of China's Hebei Jingye Group Co. Ltd., has announced its decision to retain two blast furnaces in Scunthorpe, UK, effectively putting an end to the redundancy consultation that threatened up to 2,700 jobs. This development follows the UK government's swift action to pass an emergency bill aimed at safeguarding the company's future.

Government's Role in Stabilizing Operations

"The legislation passed by the Government has been a game-changer for us. It has enabled our team to work tirelessly towards stabilizing our operations. Securing the necessary raw materials for both the Queen Anne and Queen Bess blast furnaces means we can now operate them continuously," stated Lisa Coulson, British Steel's interim Chief Commercial Officer.

Securing the Future

The company has successfully ensured a steady supply of raw materials for both furnaces in the short term, with all operations, including those at the Scunthorpe Rod Mill, continuing without interruption. This marks a pivotal moment in British Steel's efforts to secure its operational stability and workforce.