Australia may lose $45 billion amid green steel rush, report says
Australia accounts for 56% of seaborne iron ore trade.
Clive Palmer could walk away from the administration linked to his Queensland Nickel refinery without losing the assets and leave creditors out in the cold.
It has been widely observed that Mr Palmer’s Queensland nickel refinery fell into the hands of administrators last week. But it did not.
Instead, a shell company with no material physical assets called Queensland Nickel Pty Ltd was put into voluntary administration, with FTI Consulting appointed to the job on Monday last week, shortly after 237 workers at the refinery services were laid off.
