Clive Palmer has falsely claimed to have relinquished directorships in all companies he owns, in a statement he said would “set the record straight” about his beleaguered Queensland Nickel refinery.



Palmer, who complained of being “personally attacked” while pleading for Queensland government help in rescuing the refinery, said he had not been a director of any of his companies since he “retired from business … to become a full-time politician” in 2013.

However, financial reports for QNI Resources and QNI Metals, Palmer’s companies based at Queensland Nickel’s Yabulu address, contradict this claim.

Reports filed with the Australian Securities and Investments Commission show that Palmer was sole director of both companies between 22 January and 16 February this year.

A spokeswoman for Palmer who issued the statement on Tuesday did not respond to a question about the discrepancy.

In the statement, Palmer sought to defend his plea for Queensland government help in rescuing the refinery as a “risk-free proposition” involving a business that was “experiencing a small deficit in cash flow”.

A court in Western Australia was told on Monday that Queensland Nickel was on the brink of collapse.



Palmer called for “urgent discussions” with the Queensland premier, Annastacia Palaszczuk, to press his case for a government guarantee over a $35m bank loan to ensure Queensland Nickel’s survival.

The businessman turned federal MP said the state under-treasurer, Jim Murphy, had attended meetings between Queensland Nickel and four major Australian banks, who confirmed government backing would see them grant loans they had earlier denied the company.

It comes after both state treasurer Curtis Pitt and the LNP opposition said Palmer should tap into his personal fortune to ensure the survival of his refinery near Townsville, which employs almost 800 people.

Palmer, referring to reports he was seeking a multibillion-dollar bailout from the government, said it was “time to set the record straight in relation to misinformation about Queensland Nickel”.

“At no time did Queensland Nickel request taxpayer funds, only a guarantee from the Queensland government and for security of the guarantee for $35m, Queensland Nickel offered its balance sheet of nearly $2bn,” he said.

“In my assessment, this is a risk-free proposition that would ensure the continued operation of the refinery.”

Palmer said Queensland Nickel was in a “strong position” with net unencumbered assets of $1.95bn but cash flow had dried up because of the low nickel price.

The company, which two years ago donated $15.2m to Palmer’s political party, claims it can recover profitability with a forecast rise in the nickel price next year.



Palmer said Queensland Nickel, in common with other resources companies, had been denied loans by banks that refused to back them in a mining downturn which had seen other companies shed thousands of jobs.

“The fact is not a single job needs to be lost at the Townsville refinery if fairness and common sense prevails,” he said

Palmer said Palaszczuk’s predecessor as Labor premier, Anna Bligh, “did everything to encourage me” to buy the refinery when it faced closure under BHP in 2009 and his “personal intervention” had saved “thousands of jobs and the Townsville economy”.

He said he had “personally sourced meetings with premier Annastacia Palaszczuk to help resolve this issue but she is continually not available or not interested”.

“It’s disappointing that the premier and treasurer Curtis Pitt do not seem concerned about the people of north Queensland, they obviously lack leadership and compassion.”

Palmer said it was “shocking that [Pitt] gives away $40m each year to the foreign-owned Gladstone smelter but has refused to support Queensland-owned company Queensland Nickel, the largest employer in north Queensland”.

Pitt, who this week criticised Palmer for issuing the government with an ultimatum over refinery jobs before Christmas, has suggested the government needed assurances that any funding it backed would not be funnelled to other parts of Palmer’s business empire.

Palaszczuk has said the government is wary of setting a “precedent” by intervening on the company’s behalf.

The opposition infrastructure spokesman, Tim Nicholls, on Tuesday called on Palmer to “look at selling off his Rolls Royce, several jets, a helicopter and cease work on the Titanic” before seeking government help.

“The fact that hundreds of jobs are at risk because Mr Palmer was too busy being a politician, instead of managing his company, is appalling and now he wants Queensland taxpayers to fix his mess,” he said.