Yabulu Mining

Palmer Assures Workers Will Be Paid Entitlements

Clive Palmer has assured workers at the north Queensland nickel refinery they will receive their entitlements.

More than 700 employees at the Yabulu smelter, near Townsville are faced with uncertainty with speculation the operation could go into administration. 

Both major parties have urged Mr Palmer to use his own wealth to bail out the struggling site, with Queensland shadow treasurer Tim Nicholls saying taxpayers shouldn’t be bailing out a self-proclaimed billionaire.

But Mr Palmer says workers will be paid their entitlements no matter what happens.

“On our balance sheet, if you care to look at it, all their entitlements and everything are covered by the assets of the company,” he told ABC Radio.

“And we have no debt at all, so this is all a beat-up by Tim Nicholls just to get political points.”

Earlier this week Mineralogy, another company owned by Mr Palmer, lost a legal bid to have an estranged Chinese business partner pay millions in “outstanding royalty payments”.

Queensland Nickel has reportedly asked the state government for a $40 million guarantee for the refinery.

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