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Category: Clive Palmer / Company News / Federal Parliament / Federal - State Issues

Palmer commissions another audit into Queensland Nickel refinery

Tuesday, 19 Apr 2016 15:03:49

Mr Palmer said he wanted to "set the record straight". (ABC: Damien Larkins)

Clive Palmer says he will commission another audit after a damning report into his beleaguered Townsville nickel refinery in north Queensland.

Mr Palmer made a lengthy statement today, saying he wanted to "set the record straight" about the events leading up to the company going into administration.

He again rejected claims by administrators he acted as a shadow director of Queensland Nickel.

Hundreds of workers were sacked from the plant and it remains unclear if, or when, it will reopen.

Mr Palmer said he wanted a second opinion about how the refinery was run.

"We have commissioned PwC to complete and issue an independent report into Queensland Nickel Proprietary Limited insolvency, up until the appointment of an administrator," he said.

"We will release such a report at the end of May 2016 when it is completed."

Mr Palmer said he would like his nickel refinery in Townsville to reopen but was also exploring other options.

He said he had not thought about selling the refinery and was looking into other investment possibilities.

"There's a lot of tailings at the refinery which contain about 42 per cent iron, about point 3 per cent nickel, cobalt and manganese," he said.

"We're looking at direct reduction iron technology where we can maybe invest up to another billion dollars and employ a direction reduction iron plant to sell that material."

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