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Queensland Nickel approves plans to restart Yabulu Refinery

Clive Palmer’s QNI Resources is a step closer to reopening the Yabulu Nickel Refinery in Queensland.

Palmer today released a statement saying QNI had approved plans to reopen the facility near Townsville in yet another twist for this ongoing saga.

The businessman claimed that “other group companies” had nearly $500 million of cash reserves in Queensland banks that could be deployed to reopen the refinery.

“It was time for all governments and the community to work together to assist the refinery in opening in the shortest possible time,’’ Palmer said.

Queensland Nickel entered into voluntary administration in January 2016, leaving hundreds of employees out of work and the company $300 million in debt

The two-and-a-half years since have involved an ongoing court case to resolve the future of the refinery and compensation arrangements for the former workers. Read more…

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