Queensland Nickel Refinery Poses Serious Environmental Threat

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Clive Palmer’s Queensland nickel refinery is feeling the stress, as it has been reported that the refinery “poses a serious environmental threat, with nitrogen concentrations in its ponds more than 150 times the maximum for sewage discharge in the Great Barrier Reef Marine Park, according to a high-level federal government report,” reports The Australian.

“The threat of another major discharge from the ponds to the ecosystem of Halifax Bay in the World Heritage Area in northern Queensland has been described in internal documents as ‘similar to the daily discharge of treated sewage from a city of seven million people.'”

“Documents provided under Freedom of Information laws disclose a lax approach by the federal and state governments despite repeated breaches by the refinery and unpermitted discharges of hundreds of tonnes of contaminants at very high levels of concentration.”

In metal price news for stainless steel and nickel…

On Tuesday, February 11, the day’s biggest mover was the Indian nickel cash price, which saw a 1.5 percent decline. After a 1.2 percent increase, the 3-month price of nickel finished the day on the LME at $14,300 per metric ton. On the LME, the nickel spot price gained 1.1 percent to finish at $14,260 per metric ton.

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Chinese stainless steel prices were mixed for the day. For the fifth day in a row, the price of Chinese ferro-chrome remained essentially flat. The price of Chinese ferro-moly held steady.

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After three essentially changeless days, the price of Chinese primary nickel dropped 0.5 percent on Tuesday. The price of Chinese 316 stainless coil remained essentially flat. The price of Chinese 304 stainless coil saw little movement. The price of Chinese 316 stainless steel scrap held steady. For the fifth consecutive day, the price of Chinese 304 stainless steel scrap held flat.