Former federal MP and businessman Clive Palmer has entered a sales agreement for his troubled Queensland Nickel refinery.
In a statement, Clive Palmer said he was selling his shares in Queensland Nickel (QNI) Resources and Queensland Nickel Metals to Swiss company Zero Carbon Investek for an "undisclosed sum".
A spokesperson for Mr Palmer said the reported sale price of $2 billion was "close to the mark" but wouldn't confirm the value of the sale.
The Yabulu Nickel and Cobalt Refinery in Townsville collapsed in early 2016, leaving 800 employees without work.
In a statement, Mr Palmer said the sale would bring "enormous economic and environmental benefits to the people of North Queensland and wider Australia".
Mr Palmer said the refinery had been placed into "care and maintenance" since 2016 and could be back up and running in 18 months' time.
Member for Townsville and Queensland Minister for Resources Scott Stewart said the potential reopening of the site would create opportunities but understood that some locals may be dubious.
"I think there is some scepticism, once we see the gates open, smoke stack in operation and full employment I think that's when people of Townsville will say, 'This is actually happening,'" he said.
"If this actually goes ahead, it's going to be a great shot in the arm for our local economy here in Townsville."
Mr Stewart said the sale would be "a great step forward" for the state.
"It really positions us in Queensland as being able to deliver those critical minerals that the world's going to need as we decarbonise," he said.
"Not only can we deliver the copper, the aluminium, the silica, but we'll also be able to produce the nickel and the cobalt needed [for] electric vehicles.
"That's going to be needed right around the world and we're seeing that in demand more and more."
Plant closure had 'huge impact'
The closure of the plant more than seven years ago had devastating effects on the Townsville community, Mr Stewart said.
"It was like a fog crept over Townsville," he said.
"We saw unemployment rates climb to around 13 per cent ... families left Townsville.
"[It] really had a huge impact upon us."
Mr Palmer also said he had secured a 30-year port access agreement with the Port of Townsville.
A port spokesperson confirmed an agreement was in place with Queensland Nickel to restart nickel ore imports, but said the terms of the arrangement were "commercial in confidence".
