Queensland Nickel Enters Voluntary Administration

Australian Mining reported that Queensland Nickel Pty Ltd. has gone into voluntary administration. Managing Director Clive Mensink has blamed the Queensland government for refusing to support the company with a $35-million guarantee to support borrowing.
As quoted in the market news:

Premier Anastacia Palaszczuk told the ABC the government had offered to help Palmer but he had not been transparent about his dealings with the company.
“The Government has done everything they possibly can with Queensland Nickel,” she said.
“Unfortunately, Queensland Nickel was not prepared to open their books and be transparent to the Queensland Government.
“My firm view is that the priority for Mr Palmer should have been for the jobs and the workers at Queensland Nickel.”

Click here to read the full Australian Mining report.