Clive Palmer yacht Australia gets stuck on sandbank near Wavebreak Island in Gold Coast Broadwater

A major operation has taken place to free Clive Palmer’s $40m superyacht after it got stuck on a sandbank on the Gold Coast. SEE THE PHOTOS AND VIDEO

Clive Palmer’s $40 million superyacht has had to be rescued after running aground for the second time in just eight months.

A tugboat was deployed after the luxury vessel, named Australia, became stranded on a sandbank near Wavebreak Island in the Gold Coast Broadwater on Thursday evening.

The $40m vessel was finally freed shortly before 8pm. Picture: Keith Woods.

A tugboat, the Ted Noffs, was dispatched to rescue the boat.

After several attempts it was finally freed shortly before 8pm and was seen making its way south in the direction of Southport Yacht Club, from which it had earlier set sail.

Palmer’s spokesman Andrew Crook said the boat was not damaged in the incident and the mining tycoon was not on board at the time.

No-one was injured.

Clive Palmer pictured aboard the yacht in March. Picture: Liam Kidston

It was the second such incident to affect the 56-metre vessel in just eight months, with Australia also having to be rescued after running aground off the coast of Singapore in October.

Palmer, whose net wealth was last year estimated at $23.66 billion, celebrated his 70th birthday with family and friends aboard the boat in the Brisbane River in March.

Clive Palmer having a birthday lunch on his Australia in the Brisbane River on March 26. Photo: Steve Pohlner.

The mining magnate bought Australia in 2021 in a significant upgrade from his previous boat, the $8m, 35m Nancy Jean which was named after his mother.

Italian luxury boatbuilder Benetti built Australia in 2012. It was christened Bash and Ulysses by previous owners.

A tugboat rescues Clive Palmer's $40m superyacht Australia after it got stuck on a sandbank on the Gold Coast on Thursday. Picture: Keith Woods.

The opulent vessel boasts two sundecks, an outdoor and indoor bar, a jacuzzi, a VIP suite with bridge deck views, and an owner’s suite complete with an office, walk-in wardrobe, and private bathroom.

It can accommodate 12 guests and 12 crew members and Palmer regularly entertains guests on board within Australian waters and overseas.

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Originally published as Clive Palmer yacht Australia gets stuck on sandbank near Wavebreak Island in Gold Coast Broadwater