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Clive Palmer has today confirmed he is considering reopening the Queensland Nickel Yabulu Refinery in Townsville.
It comes after Mr Palmer won a 197-million dollar law suit against Chinese corporate company Citic.
Mr Palmer said he had a team of people looking at reopening the refinery and 500 people who had registered for jobs.
"Oh yeah, certainly we're having a good look at it," he said.
"It never would have closed if the Chinese government would have met their obligations, or the Australian and Queensland governments had been prepared to support the community.
"But now we're in a position to do that. So we're seeing what can be done to open it as soon as we can."
Townsville's Mayor Jenny Hill met the news with skepticism.
She said the local community would be likely to treat Mr Palmer with some distrust.
"I think Mr Palmer has forgotten the litany of destroyed businesses small businesses in particular he left in his wake with the closure of QNI as well as the destruction to many families who had member that lost their jobs there."
The refinery closed in 2016 with $300 million in debt and Mr Palmer, and 20 others, are being sued for about $500 million by liquidators appointed by the Federal Government.
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