Clive Palmer’s plan to re-open nickel plant
CLIVE Palmer has approved plans to re-open the mothballed Yabulu Nickel Refinery, near Townsville, vowing to use some of the $500 million he claims his group of companies has in cash reserves.
The refinery had administrators appointed in 2016 and about 800 jobs were lost when it closed in March of that year.
"It was time for all governments and the community to work together to assist the refinery in opening in the shortest possible time,'' the former Sunshine Coast MP said.
Mr Palmer said QNI Resources was not seeking cash from any party or financial assistance to reopen the refinery.
He said it could be achieved from his group's own funds.
"What is needed is a positive approach from Government to assist the refinery reopening in the shortest possible time.
"The refinery operations over 40 years provided 3000 jobs for North Queensland and was North Queensland's largest employer.
"It is time for all sides to forget about politics and to support the Queensland company that owns the refinery and is debt free to open and operate for the benefit of Townsville and the nation."
Mr Palmer won a legal case almost $200m in damages last year in a court case against Chinese joint-venture partner, Citic, in an iron ore project in Western Australia.
But Queensland Nickel's, PPB Advisory, recently won a Supreme Court bid to freeze Clive Palmer's personal assets in an effort to recover millions of dollars from the 2016 collapse of the Yabulu nickel refinery.
The freeze also affects more than $340 million in company assets related to Mr Palmer's business activities.