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Palmer's Qld Nickel in talks over $25m government loan

A slump in the nickel price is understood to have put pressure on Clive Palmer's business Queensland Nickel.
A slump in the nickel price is understood to have put pressure on Clive Palmer's business Queensland Nickel. Warren Lynam

THE Palaszczuk Government and one of Clive Palmer's key businesses, Queensland Nickel Pty Ltd, were in discussions about a potential $25 million loan to help the company.

It is understood the Queensland Cabinet debated the issue during its weekly meeting on Monday, after a series of correspondence between Treasury and Queensland Nickel Pty Ltd about a possible loan and a Government guarantee for banking facilities.

The office of Treasurer Curtis Pitt has confirmed the Government held discussions with Queensland Nickel about the impact of the slumping world nickel price.

The company operates a nickel refinery at Yabulu, about 25 kilometres north of Townsville.

The plant was once owned by disgraced corporate high-flier Alan Bond. At its peak the refinery employed 900 staff.

Read more about this on ABC News Online.

Topics:  clive palmer editors picks palaszczuk government



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