QUEENSLAND NICKEL ENTERS VOLUNTARY ADMINISTRATION

Written on the 18 January 2016

QUEENSLAND NICKEL ENTERS VOLUNTARY ADMINISTRATION

CLIVE Palmer's embattled business Queensland Nickel has been placed into voluntary administration, days after sacking 237 employees.

Operations have been handed over to administrators John Park, Stefan Dopking, Kelly-Anne Trenfield and Quentin Olde of FTI Consulting.

Queensland Nickel managing director Clive Mensink says it will be business as usual and believes the company will be able to trade out of administration.

"It is my understanding that the administrators will be in contact with all stakeholders and the operations of QNI will continue on as usual," Mensink says.

"From our perspective it is business as usual and employees of QNI will continue productivity at this difficult time.

"QNI plays an important role in North Queensland's economy and I believe that will remain the case in the future once restructuring is completed in this volatile commodity environment."

Mensink has previously accused the Queensland Government of turning its back on the company, after the Chinese Government injected billions into its metal industry and the Canadian Government waived electricity costs as an incentive.

He blamed the state's lack of support on Queensland Nickel's decision to cut its workforce last Friday.

It follows news the company donated $288,516 to the Palmer United Party, according to paperwork from the Electoral Commission of Queensland lodged on December 31.

 


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