Things are not always done for commercial, profitable reasons. Saving jobs was more likely a political reason.
The first article I Googled suggest to me the plant should have been closed. QNI imports ore for processing. Why do you have to import ore for the plant other than to keep it going. JOBS!
The tailings are a headache, stored in dams, and about to overflow into the Great Barrier Reef. A green issue Australia and Townsville do not need. JOBS!
QLD election 2009. Premier spent a significant amount of time in Townsville prior to the election. CP took over QNI in 2009. Of course all these could be a co-incidence.
CTP Price at posting:
46.5¢ Sentiment: None Disclosure: Held
