Sighs of relief for Liberty Steel UK workers as the company announces it has secured at £50 million cash boost to safeguard 660 jobs at the company's Rotherham mill.
The money means that Liberty can restart its electric arc furnaces, the workers can return to work and the company can continue its plan to expand Rotherham's capacity and, ultimately, start producing 2Mt of green steel per annum.
A UK Steel spokesman told the BBC that the cash injection was 'really good news' for the company and the workers and that certainty has returned to Liberty's 'well-paid and highly skilled workforce'.
As an energy crisis looms, however, UK Steel has called upon Boris Johnson, the British Prime Minister, to step in on behalf of the industry before it was too late.
Community boss Roy Rickhuss, whose union represents British steelworkers, said that huge challenges still remain for Liberty [not least a Serious Fraud Office investigation] but the new funds prove that the GFG Alliance 'can raise funds for the UK' and that the workforce at Rotherham is ready to get back to 'making the best steels money can buy'.
For GFG Alliance, the cash injection will help the group's Speciality Steel division 'establish a stable operating environment and create an attractive asset'.