Administrators appointed at Clive Palmer’s Queensland Nickel refinery

UPDATE: Administrators have been appointed to Clive Palmer’s Queensland Nickel refinery following the sacking of almost 240 workers last week.

Cowboy Stockham, the union representative for the workers at the troubled Queensland Nickel refinery. Picture: Lyndon Mechielsen

ADMINISTRATORS have been appointed to Clive Palmer’s Queensland Nickel refinery following the sacking of almost 240 workers last week.

FTI Consulting issued a statement this morning advising the directors of Queensland Nickel Pty had appointed them as voluntary administrators.

“The Directors of Queensland Nickel have advised that the appointment of the Administrators from FTI Consulting was made after full consideration of Queensland Nickel’s obligations and its duties to ensure it acts in the best interests of employees, creditors and other stakeholders,” the statement read.

“The Administrators will conduct an independent assessment of the financial position and ongoing viability of Queensland Nickel. The Administrators intend to work with Queensland Nickel management and staff in continuing to trade the business while the review takes place.”

FTI Consulting spokesman John Park said the administrators were intending to find a way to “maximise” the chances of the business continuing.

“We will undertake an urgent assessment of the financial position and ongoing viability of the Company and its business operations. No significant changes to the Company’s trading operations are anticipated in the immediate term. As Administrators, we will act independently at all times, although we will work with Queensland Nickel management and staff in continuing to operate the business,” he said.

The Administrators will provide a high level update at a creditors meeting expected late January 2016, the statement read.

EARLIER: remaining Queensland Nickel employees fear a second wave of redundancies is coming despite the company telling the union it plans to trade out of its current woes.

Australian Workers’ Union Northern District secretary Cowboy Stockham said the 550 workers still employed at Queensland Nickel were “very nervous”.

“There’s a lot of rumours that it is stage one of the redundancies,” he said. “We’ve been assured by the company that they will trade out of this.”

Mr Stockham said the union would push for people to receive their full entitlements and he had worked extra hours to help fired workers.

“I got a lot of phone calls and they were all from Queensland Nickel employees and their spouses, asking a multitude of questions,” he said.

COMPANY: Clive the real ‘hero’

The 237 workers from Clive Palmer’s troubled nickel refinery in Yabulu were made redundant on Friday, given a letter of dismissal before being marched off site by security.

Cowboy Stockham, the union representative for the workers at the troubled Queensland Nickel refinery. Picture: Lyndon Mechielsen

An unnamed sacked worker said it was “better to be receiving a redundancy now rather than the possibility of nothing when the company fails”.

She said many people had been looking for work already because of the fear surrounding the company.

She said the redundancies were announced in meetings at the refinery, with workers made to wait for individual interviews to learn their fate.

“Some of us were left for nearly two hours in the meeting room while we waited our turn,” she said.

“Others who had already been dismissed said goodbye to us as they were escorted off the site past our door. It was like waiting for an execution.

“There was no indication earlier in the week that the plant was in any worse shape than before, ore had come in and some purchases were being approved.”

Another worker said they were still waiting to hear details of their redundancies.

“It’s very unprofessional, the way they’ve handled it,” he said of workers being given about 20 minutes to collect their possessions and leave the site after their meetings.

“To be honest, I don’t see how the plant can run safely on the amount of people out there,” he said.

“It’s virtually a ghost town now.”