Liquidator for Clive Palmer's former company Queensland Nickel says creditors paid in full

Liquidator FTI says it has recovered $300 million for creditors of Queensland Nickel, settling all claims.

The Yabulu Nickel Refinery, owned by Queensland Nickel Industries, was the Townsville region's largest private employer when it collapsed in 2016, owing hundreds of millions of dollars.FTI senior managing director Kelly Trenfield said when FTI was first appointed, it estimated QNI owed about $800 million.She said recovering the final $300 million owed to creditors had been a long process.

There were about 1,500 creditors in total, including local infrastructure suppliers including rail, power and ports, according to Ms Trenfield. "It's so nice to see a complete payment back to creditors even if it has taken eight years," she said.Plummeting critical mineral prices have pushed major industry players to mothball their mines, workers to lose jobs and the government to all but panic. What comes next?Monash University critical minerals researcher Professor David Whittle said any company looking to revive the operation faced an uphill battle.

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BHP's Nickel West closure could mark end of Australian nickel industry, analyst saysThe impact of the closure of BHP's Nickel West operations will be far and wide and 'almost signals the end of the Australian nickel industry', a prominent mining analyst says.
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