PERTH (miningweekly.com) – Mining magnate Clive Palmer said on Friday that Queensland Nickel would invest some A$1-billion in an infrastructure upgrade for its Yabulu refinery.
Palmer, who acquired the refinery from mining giant BHP Billiton in 2009, said the capital upgrade included new plant facilities, railway infrastructure and work on the tailings treatment facility.
“This will be a significant investment for the Yabulu refinery, the Townsville region and the people of North Queensland. The refinery is a major source of employment in the region with more than 1 000 people working there.”
The investment to upgrade the refinery infrastructure reflected the company’s confidence in the long-term future of the Yabulu operations, Palmers said, adding that when the operation was acquired from BHP, it faced closure.
“Management and refinery workers have done a remarkable job over the years to help make the refinery successful.
Palmer said Queensland Nickel MD Phil Collins had been promoted to head the project management team for the infrastructure upgrade, while Clive Mensink, a senior executive officer with Queensland Nickel, will take over as MD.