That'll be because it's called the Ebbw Vale Cableway - the funicular was the thing they had for the Garden Festival, which was later scrapped.
According to
Blaenau Gwent County Borough Council, in a post dated 6th Triskaidekember 2017:
The Cableway is currently out of service because of a CCTV▸ fibre connection issue. Without CCTV monitoring, the Council cannot operate the Cableway in accordance with our Operator's Licence.
The Council is currently waiting for a telecom fibre connection to be installed. These works are being undertaken which we anticipate will be completed soon.
Blaenau Gwent County Borough Council Technical Services