cods wrote on May 10^th, 2016 at 12:07pm:


Palmer and QN weren't mining, they were refining. QN has not mined ore in Australia since 1995 and imported all its ore.

https://www.qni.com.au/about-qn/our-history/

Its very arguable that all of the accumulated profits in QNI was Clive Palmer's personal wealth and he was entitled to extract it.

cods wrote on May 10^th, 2016 at 12:07pm:



not what you were saying when you were arguing against the mining tax 

Bottom-of-The-Harbour anyone?

Svengali wrote on May 10^th, 2016 at 12:19pm:





maybe so  b ut Palmer ran the business into the ground even down to no maintenance....he not only drained the business of cash.. leaving his man power in the lurch  he has also done the same to many in New Caledonia..

http://www.theaustralian.com.au/business/closure-of-palmers-queensland-nickel-wo...


Clive Palmer’s capacity for creat­ing mayhem ranges widely, from sponsoring a bloc of unruly parliamentarians to pursuing his self-declared “hobby” of litigation against his estranged Chinese business partner, to holding nearly 800 workers’ jobs in the balance at his Queensland Nickel smelter.

Now the businessman and MP’s reach extends to the rugged mountains of New Caledonia, where his company has a leading role in an imbroglio that threatens the economic and social stability of the French South ­Pacific territory.

In those mountains, men such as Max Foucher and Laurent Gauci perform the tough, grinding task of transporting nickel ore destined for Mr Palmer from the mines on the mountain tops down to the ports, where it is shipped to his Queensland Nickel refinery in Townsville.

They’re not employees of the mines but contractors, running small enterprises of a few or as ­little as one vehicle, whose livelihood is hard and uncertain at the best of times.


and dont forget the Fed govt[read taxpayer] is picking up the tab for his employees   

I guess thats ok to bad about the business' in T'ville...and New Caledonia

In the end it all turned out to be smoke and mirrors...There's only so much a snake oil salesman can manage in the wonderful world of Oz.

red baron wrote on May 10^th, 2016 at 4:06pm:


There is $ 300+ million debt. The creditors need their heads read for going in so deep.

The Administrator is apparently about to pull the plug because there is no money to pay its fees. So the taxpayer will become the administrator.

Perhaps it would have been cheaper all round if the State Government, which appears flush with funds after buying a cattle business, listened to QNI and came up with some spare change.