UK races to secure coal needed to keep British Steel furnaces burning

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UK government officials are scrambling to secure access to critical charcoal and iron supplies to preserve the recent son -in -law in Britain after passing emergency legislation to maintain British steel standing on his feet.

A shipment of charcoal, needed to launch the ovens, was currently in Mingham Port in Lincolnchy, after it was requested but was not paid by the Chinese British owner, Jinji, according to two people who were briefed on the situation.

People close to the company confirmed that officials were working on Sunday with the local administration of the British Steel program to secure new shipments from Cokee and Iron Ore to continue production.

The government is racing to prevent the furnaces from cooling to the extent that it can no longer run. Its operation again is not impossible, but it is an expensive and long process.

The closure of the BRISHISH Steel Oven will reside the UK as the only G20 country without the ability to make steel from scratch.

Prime Minister Sir Kerr Starmer took the extraordinary step of summoning parliament on Saturday during Easter to pass emergency legislation, allowing the United Kingdom to control the British operations from Ginji.

The new law gives government powers to control the management and workers in the factory to ensure continued production. While Jingye is still the main contributor at the present time, the legislation is an essential step on the path of British steel nationalization.

Business Secretary Jonathan Reynolds MPS told that although his favorite choice is to find a partner in the private sector to help finance the future steel maker, the most likely option was full nationalization.

He said that the shareholders will be paid the fair market price in a nationalization, but they added: “In this case, the market value is actually zero.”

An official said that there are other shipments of raw materials that were soil to the United Kingdom and the government was working to ensure that it reached the Scunthorpe Factory in an unlimited way.

Steelmaker’s local administration was considering working with other players in the industry to secure raw materials. More than ten companies have provided support for the company’s raw materials over the past 24 hours, according to people familiar with the matter.

One person said that the company re -evaluating whether it was possible to reversed the decision that CEOs in Genji made to inactivity on one of the ovens on a temporary basis.

And they said: “There are no options outside the table at the present time and the only focus is to keep the melting oven operations.”

The government intervened to maintain the primary steel industry in the UK and protect 3,500 jobs in this sector.

On Sunday, Reynolds was unable to confirm that the government will definitely be able to buy enough raw materials to keep the ovens burning, and informed BBC that the situation is still “difficult and difficult.”

Reynolds added that the “conscious decision” by Jenny “to sell the current supplies of raw materials is the great change that the government has to intervene.

“In recognition of the sensitivity of the steel industry for strategic national interests, Reynolds said:” I will not bring a Chinese company personally to our steel sector. “

When asked if there was a “high confidence tape” for Chinese companies that control the UK’s business, he said: “Yes, we have to realize that.”

Reynolds Sky News told whether the government can trust Chinese companies after Jenji’s treatment with British steel depends on the sectors in which it operates.

He said: “I think we must be clear about the type of sector that, in fact, we can promote and cooperate, and those frankly where we cannot.”

The intervention led to a new audit of the previous conservative government’s decision to sell the last group of strategic steel in the United Kingdom to a Chinese company in 2020.

The UK leader, Nigel Faraj, said Jenny was clearly a “bad actor” and criticized the conservatives, and BBC told on Sunday: “They gave a strategic industry to an actual foreign opponent.”

Reform is seen as a major labor party competitor in local elections on May 1, and Farraj sought to place his party as a major political preacher for the main industrial sectors across Britain.

Reynolds said that the British steel recorded 233 million pounds in losses in the last fiscal year, but the cost of the collapse of the steel maker would have exceeded one billion pounds.

On Saturday, the governor of CHingford and Woodford Green, Sir Iale Duncan Smith, said on Saturday that the previous conservative government had “had never been granted. [Jingye] The contract.

“I warned them of that,” he said to MPS. “It is time for us to make sure that we are dealing with China at the nominal value and do not accept pretending that this company is private or separate in any way from its government. This is a critical point.”

Jingye did not immediately respond to a request for comment.