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Investor Centre Australia Pty Ltd
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Queensland's Premier Annastacia Palaszczuk has ruled out providing controversial businessman Clive Palmer with any help in reopening the Yabula nickel refinery near Townsville.

The Premier said, "he needs to pay workers and bills" which is estimated to more than $300 million after the failure of Queensland Nickel in 2016.

The port of Townsville is owed about $1 million, and Mr Palmer has stated he would pay this debt to the port to get the refinery up and running again.

The Supreme Court in has recently stepped in and froze $500 million of Mr Palmer's private and company assets.

Mr Palmer stated, "Already 560 families in Townsville have registered for employment at the refinery,"

"If we could just get back on to the Port, we'd be able to employ 100 people tomorrow to start the work of getting our wharf and train-loading equipment ready for the first shipment of nickel ore.

"If that happened quickly, we'd need a further 100 employees before Christmas, and we'd expect to be at full employment levels of around 750 within 12 months.

"It's time for the Premier to put the public's money where her mouth is … this is an asset owned by the people of Queensland, and it should be used to benefit the people of Queensland.

"And if the State Government won't act, I call on the Turnbull Government to use federal powers to secure fair and equitable access to the berth so Yabulu can reopen."

"The Government and the Port Authority refuse to allow my companies to import nickel ore for processing at the refinery," he said.

Queensland cabinet minister Stephen Miles said he did not believe anything Mr Palmer had to say.

"I don't think this will happen," Mr Miles said.

"I think that Clive is using it for publicity for his own political gains in the lead-up to what he hopes will be his re-election."

Global nickel prices have towered in the last year, from around AUD$12,000 per tonne 12 months ago to AUD$20,000 per tonne.
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A massive rise in commercial finance drives a rise in lending during January, as housing lending eases.
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