UK government on verge of full nationalisation of British Steel

[HavokFour]

https://www.ft.com/content/f8853735-c2be-46f3-8e66-831282fc3e7a?syn-25a6b1a6=1

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After previously being sold off by the Conservative government (Boris) in 2020 to the current Chinese owner, Jingye.

Jingye reportedly paid £50m, however...

But British Steel is heavily lossmaking and the government spent £377mn between April and the end of January to keep it afloat. The National Audit Office has warned that this could hit £615mn by June and £1.5bn by 2028 if current spending continues

The current owners may have also been deliberately kneecapping the plant, citing not being able to get high enough grade coke. Which resulted in the above quote.

I wonder if this may give our own some ideas regarding certain resource extraction and production industries over here.

The times they are a-changin'.

 

[Colin Parkinson]

Knee capping your opponent, while pretending to help them, so very Chinese

 

[brihard]

I wonder if this may give our own some ideas regarding certain resource extraction and production industries over here.

The times they are a-changin'.

We do have the Investment Canada Act that can be used to prevent or reverse foreign ownership of Canadian companies that’s found to be injurious to national security.