Yabulu refinery buyback mooted

Radio talkback host Alan Jones chaired the meeting which saw many local, state and federal politicians in attendance agreeing to work to keep the business afloat.

Mr Jones said the big question that everyone should be focused on is what the cost of not doing anything to save the refinery would be against the cost involved in finding a way to keep the refinery operational.

“I spoke to the administrators (FTI Consulting) earlier today who said they’d delayed liquidating the business until Clive Palmer came up with an alternate proposal to keep the business afloat; a proposal that hasn’t been delivered,” Mr Jones said.

“April 22 is set as the day when the business is officially liquidated and workers are still owed a total of $73m in entitlements,” he said.

“These people need to put food on the table, it simply cannot take an eternity for the entitlements they are owed to reach them.

“Appalling management has jeopardised the livelihood of these workers and their families and will have a profoundly negative effect on the prosperity of the city.

If the business is shuttered Mr Jones believes the knock-on effect would aggravate the already depressed housing industry in the city and also cause large reductions in income tax revenue due to the loss of jobs.

“We need to develop a new cost model to work out the problems. 

“The plant is in a state of disrepair, to get it up and running again safely would require a massive injection of capital expenditure.

“This is why we discussed the resolutions proposed by the workers here today which includes the possibility of a community buyback option.”

The resolutions submitted were all passed without exception by those in attendance. 

The resolutions requires current representatives of local, state and federal government to:

 – Work proactively with administrators (FTI Consulting) to immediately liqudate QNI allowing the workers to access the Fair Entitlements Guarantee (FEG).

 – Work proactively with administrators (FTI Consulting) to immediately release employees documents needed to apply for FEG and that FII facilitate the submission of these documents as soon as possible to workers.

 – Work proactively to provide long term sustainable future jobs for north Queensland and surrounding districts.

 – Give an unequivocal guarantee and commitment to facilitate the buy-back of the refinery.

 – Give an unequivocal guarantee to support the reopening of the refinery.

 – A commitment to facilitate the re-creation of the 800 refinery jobs and the associated community jobs in Townsville and broader north Queensland.

The final resolution calls for a committee of workers to be formed to represent and negotiate on behalf of workers dealing with Sister City Partners and any other party that may come forward with proposal to buyback and re-operationalise the refinery.

Federal member for Kennedy Bob Katter was in attendance at the meeting and said “Every metal that goes down in value will come back again”, in relation to the current low value of nickel.

“When the price comes back it’s imperative these workers are able to receive the benefits,” Mr Katter said.

“This is why they need the buyback loan now so that they can cover the losses over the next three years while the refinery is brought back up to safe standards,” he said.

Emotions ran high on the day with workers in attendance vocal in their anger about the apparent lack of action shown on their behalf by all levels of government.

Several ex-workers were invited up to the stage to talk about their plights since they lost their jobs, with some speaking of facing eviction for their homes and struggling to pay bills. 

“These people aren’t looking for a hand-out, but a hand-up to keep on going,” Mr Jones added.

He said he’ll be writing to significant members of federal government regarding the resolution discussions.

“The rubber has hit the road, it’s time for politicians to act.

“Democracy is on the rack here, and government can no longer listen to the people only when it suits them.”