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UK govt may buy coal to support British Steel’s operations amid cost pressure.
British Steel's future uncertain amid energy crisis and market volatility.
Intervention shows urgency to preserve domestic steel production.
In a significant move to safeguard one of the UK’s key steel producers, the British government has reportedly offered to purchase coal supplies to ensure the continued operation of British Steel, according to sources familiar with the matter.
British Steel, owned by China’s Jingye Group, has been struggling with soaring energy and raw material costs, prompting concerns over its ability to maintain production. The government’s proposed coal purchase is aimed at bridging immediate supply gaps and keeping furnaces running, especially at its Scunthorpe facility.
This potential intervention reflects growing concerns over job losses and industrial decline in the region, as the company plays a vital role in the UK’s infrastructure and manufacturing sectors. It also highlights the ongoing reliance on coal in parts of the steel industry, despite wider decarbonization goals.
Talks are still underway, and no official confirmation has been issued. However, insiders suggest the move could serve as a short-term lifeline as the government explores more sustainable long-term solutions.
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