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Uncertainty looms over British Steel’s Scunthorpe site after an emergency vote in the House of Commons resulted in government takeover of the blast furnaces, following concerns about the site’s Chinese owners, Jingye. Business Secretary Jonathan Reynolds emphasized the need for action to prevent the loss of the UK’s last primary steel-making facility, which employs 3,500 workers, although he could not assure the plant would secure enough raw materials to remain operational. He acknowledged the company’s poor negotiation and warned that the government may incur losses while managing the struggling firm, which faces annual losses of £233 million.
