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Keyword: jingyegroup

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  • British Steel warns of 2,700 job losses from blast furnace closures

    03/28/2025 9:34:27 AM PDT · by yesthatjallen · 27 replies
    Reuters ^ | 03 27 2025 | Staff
    China-owned British Steel said it could close its two blast furnaces as soon as June with the potential loss of up to 2,700 jobs, as U.S. tariffs and environmental costs threaten to damage its already struggling operations. British Steel, owned by China's Jingye Group, has warned for years that steelmaking in Scunthorpe, north east England, is loss-making, and has been in talks with the government for months about securing funding to switch to a greener type of steel production. But the two sides have failed to reach a deal, and British Steel said on Thursday it was making the "difficult...