British Steel solution is within reach, minister says

A “commercial solution” for British Steel is “within reach” according to Culture Secretary Lisa Nandy as the government considers nationalising the Chinese-owned business.
Nandy told the BBC that British Steel – which employs 2,700 people – will “continue to be an important part of our economy for years to come” and an agreement over its future was “achievable and within sight”.
The company is at risk of running out of raw materials within weeks, raising fears over whether its blast furnaces which make high grade steel can keep running.
It comes as the steel industry deals with a 25% tariffs on exports to the US, which came into force last month.
British Steel, which has been owned by China’s Jingye since 2020, has said its two blast furnaces in Scunthorpe are “no longer financially sustainable”.

Source: BBC