Nickel project doomed?
(N Z. Press .Assn—i.upu r r.j/ f• CANBERRA. A $265m AustralianAmerican nickel project in Queensland might have to close down within a week unless an sBm loan could be raised, the Australian partner has said. The chairman of Metals ; Exploration, Ltd (Mr R. Hare), gave the warning in a telegram to the Australian Prime Minister (Mr WhitI lam) he said that the company’s funds were “virtually exhausted." Mr Hare asked Mr Whitlam for a guarantee from i the Federal Labour Government for potential lenders of the sBm for the Greenvale | nickel project, which is I operated by Metals Explor- , ation and Freeport Inter{national Inc. Metals Exploration had hoped ‘to secure the funds : from the Government's Australian Industry DevelI opment Corporation through the “national interest.’ provisions, of the A.I.D.C. Act. but Mr Whitlam replied that I it would be impossible to es- : tablish a national interest ! committee, provided for in the Act establishing the cor- , poration. before Parliament ’rose next week for the winIter recess.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19750531.2.168
Bibliographic details
Press, Volume CXV, Issue 33857, 31 May 1975, Page 19
Word Count
167Nickel project doomed? Press, Volume CXV, Issue 33857, 31 May 1975, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in