Hopes fade for Yabulu Low nickel price leaves refinery in limbo
HOPES of a new operator buying or restarting Yabulu nickel refinery look slim with the metal’s prices continuing to languish around $ US4 a pound, marginally higher than when the plant fell into administration and closed last year.
Queensland Senator Matt Canavan and LNP state leader Tim Nicholls said last week that development of a coalfired power station could help Yabulu reopen while Labor Energy Minister Mark Bailey said the problem with the refinery was not with power but its owner Clive Palmer.
A former manager at the refinery, speaking on condition of anonymity, said the hope would be that former plant workers could obtain work at the power station rather than at a reopened refinery.
The former manager said power for the plant was supplied through its own turbines powered by steam from coalfired and gas- fired boilers.
“There’s a small chance ( of the refinery reopening). I haven’t given up yet,” the for- mer manager said. “But there’s a lot of things that have to line up. One is that the price ( of nickel) has to go up.”
It is understood ore suppliers from New Caledonia have expressed interest in buying Yabulu but have been unable to reach agreement with Mr Palmer or liquidators FTI Consulting.
Liquidators to former Yab- BULLDOGS, labradors, cattle dogs, chihuahua and every kind of dog in between will hit Jezzine Barracks for the Million Paws Walk this month.
RSPCA’s annual flagship fundraiser day has been held in Townsville for just over two decades.
Resident Sharon McGarry has attended each one for the past 21 years.
“My neighbour’s little girl has been coming with me since she was five and this year she will be bringing her own dog as well, this is something that Tessa really looks forward to,” she said.
“I decided two years ago now ... to become a volunteer at my local RSPCA. It was one of the best decisions I’ve ever made.”
The Million Paws Walk will kick off at Jezzine Barracks on May 21 at 8am.
There will be food and beverage stalls, a hydropath, pet market stalls, face painting, a jumping castle, dog competitions and demonstrations.
RSPCA Queensland spokesman Michael Beatty said the organisation hoped to raise more than $ 640,000 in statewide Million Paws Walks.
“Our annual operating costs are just under $ 48 million in Queensland and we receive less than 1 per cent of that figure in government funding,” he said.
To register visit www. millionpawswalk. com. au. ulu operating company Queensland Nickel have argued that Yabulu joint venture owners QNI Resources and QNI Metals are liable for Queensland Nickel’s debts and so they could have a claim on Yabulu.
Mr Palmer previously has announced his intention to reopen the plant as well as expressing a willingness to sell, reportedly for $ 200 million.
But sources say it’s worth “zero” at current nickel prices which would need to recover to $ US7 ($ 9.30) a pound before the plant could reopen.
Mr Palmer is continuing to maintain the plant and a small team is employed.
Sources say there was work to remove corrugated iron sheeting from the coal silos recently, evidently ahead of the path of Cyclone Debbie.
Mr Palmer could not contacted for comment. be