Posted in | News | Nickel

Clive Palmer Sets the Xmas Bonus Bar High

Clive Palmer, the mining billionaire, has turned around the Townsville mining company Queensland Nickel within a space of two years. The nickel refinery went from losing $10 million per month to making a $100 million profit this year.

From eminent closure to successful return the company had something to celebrate and the owner did it in style.

To celebrate the fantastic turn around at the firm Clive Palmer handed out 55 Mercedes and 500 overseas holidays to his employees. He even threw a huge party for the 1,500 staff members who missed out on getting a Mercedes car.

The 30% increase in production in the refinery in Yabulu was credited to the hardworking employees by Mr Palmer. He had acquired the ailing company from BHP Billiton and instituted pay hikes to motivate the workers. His faith in the employees has been justified by their hard work in totally turning the company around. In the first year itself they had managed profits of $16 million. As a reward he spent $10 million in gifts to the staff of the nickel company.

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