Palmer pledges $400m to reopen collapsed refinery in 2020

Clive Palmer claims he has set aside $400 million to reopen his north Queensland refinery that collapsed with the loss of hundreds of jobs in 2016.

The billionaire mining magnate last month failed to shut down the trial over the collapse of Queensland Nickel amid a dispute regarding the likely profits sought by liquidators on behalf of their corporate backers.

Clive Palmer pledged $400 million to reopen the refinery.Credit: AAP Image/Dave Hunt

Mr Palmer has settled most of the multimillion-dollar claims stemming from the Townsville refinery's collapse, in which 555 workers lost their jobs.

On Wednesday, Mr Palmer released a statement in which he said his company had "commenced the process of restarting the refinery". He also accused the Port of Townsville of blocking progress.

"We are still hoping to avoid court proceedings with the Port of Townsville and would encourage the Queensland government to assist in allowing Queensland Nickel access to its port berth so it can process and refine imported ore," he said.

But Transport and Main Roads Minister Mark Bailey shot back on Wednesday by saying Queenslanders "see through Clive's excuses and have been let down by him again and again".

"Queensland Nickel is seeking to access Berth 2 at the Port of Townsville, which is leased by Glencore.

"Queensland Nickel previously accessed Berth 2 for nickel ore imports under a commercial contract with Glencore, and I’m advised is understood to be in discussions with Glencore about renewing this commercial arrangement.

"Clive Palmer should report on progress with his Berth 2 negotiations with Glencore instead of his usual shenanigans of blaming the government."

Mr Palmer said he hoped the Yabulu nickel refinery would be open by the end of 2020 and provide 1000 jobs.

Government-appointed liquidators told the Brisbane Supreme Court earlier this year that as Queensland Nickel crumbled around him, Mr Palmer took steps to protect himself ahead of his workers.

A lawyer for the liquidators, Shane Doyle, said before QN slipped into administration Mr Palmer made financial moves knowing "there would be employees who would be made redundant" and "trade creditors wouldn't get paid".

In his statement Mr Palmer said he had "paid all that is owed" and hoped the refinery could be reopened in "the interests of the people of Townsville and the north Queensland economy".

“Everyone has been paid and yet the Queensland government continues to stop this major project operating, which would have a major economic benefit on the north Queensland economy’’ he said.