CLIVE Palmer’s nickel refinery may just pass belly-up as early as nowadays after his personal corporate Mineralogy misplaced a courtroom bid to pressure its former Chinese language industry spouse to pay hundreds of thousands in “remarkable royalty bills”.
The failed courtroom bid the day before today has forged doubt on the way forward for Queensland Nickel’s Yabulu refinery, which the WA Splendid Courtroom heard the day before today used to be in a “worse than perilous place” and with out the cost directors can be referred to as in, The Courier Mail stories.
Mineralogy and CITIC Pacific stay embroiled in a dispute over royalties from the huge Sino Iron undertaking in Western Australia, with Mr Palmer’s corporate claiming it’s owed tens of millions through the state-owned miner.
Whilst that fight continues, Mineralogy had implemented to the Perfect Courtroom of WA, looking for an instantaneous cost of $66 million ($US48 million), pronouncing it and 5 different entities together with Mr Palmer’s Queensland Nickel Pty Ltd would endure “irreparable hurt” if the request used to be refused.
The corporate’s Yabulu refinery, which processes nickel laterite ore imported from New Caledonia, employs about 800 other folks.
On Monday, Justice Paul Tottle brushed aside the appliance.
“I’m ready to simply accept that there’s a possibility that QN could also be positioned into management … the New Caledonian pursuits don’t seem to be in danger to the level this is contended by way of Mineralogy,” Justice Tottle stated.
He stated there used to be some proof to signify Nationwide Australia Financial institution may just give Queensland Nickel a mortgage, however “the avenues of finance that the financial institution used to be ready to believe don’t seem to have been pursued”.
A CITIC spokesman stated out of doors the courtroom that the corporate’s ideas have been with the employees of Yabulu.
“Our business dating is with Mineralogy on my own,” he stated. “How Mr Palmer chooses to spend this cash and the way he chooses to regulate his different ventures — whether or not it’s golfing classes, nickel mines, football groups, the Titanic 2 or robot dinosaurs — is an issue for him.” Mineralogy used to be being searched for remark.
Townsville Mayor Jenny Hill ultimate night time advised The Courier Mail it used to be “extraordinarily tense information” for the refinery’s virtually 800 workers and all affordable steps had to be taken to offer protection to them.