UK Government Takes Over Last Virgin Steel Plant Amid Shutdown Threats

TL/DR –

The UK government has seized control of the country’s last virgin steel plant after its Chinese owners, Jingye Group, threatened to shut it down. The Scunthorpe plant’s two massive blast furnaces are key to the steelmaking process, and their closure would have significant repercussions for industries like construction, defense, and rail. The move also restricts the country’s dependence on foreign sources of steel.

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