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Palmer's Qld Nickel could close within a week: administrators
Wednesday, 2 Mar 2016 09:49:14
Queensland Nickel went into voluntary administration in January. (AAP)
The administrators appointed to run Clive Palmer's embattled Queensland Nickel have told the State Government the refinery near Townsville could shut within a week if it does not guarantee a $10 million loan.
A source has told the ABC FTI Consulting, the administrators, would have less access to cash because it could not get enough ore from suppliers in New Caledonia.
It is understood FTI Consulting told Queensland Treasurer Curtis Pitt it could not continue incurring liabilities and it would be forced to shut down the operation as early as Monday.
The business would then be liquidated.
Mr Pitt has written to his Federal Government counterpart, Scott Morrison, asking for assistance.
Queensland Nickel was put into voluntary administration on January 17 after sacking 237 employees.
Mr Palmer said he was not involved.
"The administrators have all the authority," he said.
The ABC has contacted FTI Consulting and Mr Morrison's office for comment.
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