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Chinese steelmaker Jingye Group has completed the buyout of British Steel, helping secure 3,200 jobs and saving the British company from liquidation.

Chinese company Jingye Group announced on Monday that it has taken over British Steel in a rescue bid, securing the immediate future of the Scunthorpe steelworks and promising a sustainable chapter for the industry.

FINNISH BATTERY INDUSTRY INTENSIFIES COOPERATION: FORTUM, BASF, AND NORNICKEL SIGN COOPERATION AGREEMENT ON BATTERY RECYCLING

Gerdau to idle St. Paul steel mill melting, rolling operations