Mr Palmer and Premier Anna Bligh announced a $69billion deal to export coal to China, which the Broadbeach Waters resident says will create thousands of jobs in Queensland and likely restore the state's AAA credit rating.
His company Resourcehouse will supply 30 million tonnes a year to China for 20 years.
The coal will be mined from the Galilee Basin region near Alpha, west of Emerald.
A private 495km rail line will be built and new jetties and ports erected at Abbott Point, near Bowen.
The royalties from the sales are expected to tip more than $700 million into the State Government's coffers each year from 2014, while creating 7500 direct jobs and 50,000 to 60,000 indirect jobs across the state.
Mr Palmer, a life member of the state opposition Liberal National Party and a former state director of the National Party, said the Export-Import Bank of China had financed a $6 billion loan but emphasised the project was 100 per cent Australian-owned. The man who turns 56 next month wakes up millions of dollars richer every day.
He studied journalism at university but opted for Gold Coast property investment as a career instead.
Mr Palmer's biggest break came in the mid-1980s when he took over the assets of two US mining companies in the Pilbara region.
They were exiting Australia and Mr Palmer was just about to become one of the richest men in the land, riding on the commodities boom, an understanding of how to do business with China and a relentless work ethic.
Exactly how much he is worth, no one is sure. It has been estimated that his fortune lies between $1.5billion and $6.5 billion, but that was before Saturday's $60 billion deal.
His fortune has been built with two key men beside him Clive Mensink and Geoff Smith directors of Mineralogy and Gold Coast United and more among the dozens that Mr Palmer controls.
The China deal through Resourcehouse features former Opposition leader Alexander Downer as a director along with Domenic Martino, Mr Mensink, Baohua Bai and Zhengrong Chi, of Beijing, Peter Lynch, of NSW, American John Elmore and former Briton Derek Payne. - excerpt from goldcoast.com.au (dated 8 Feb, 2010)
February 8, 2010
DEAL OF THE CENTURY
Few people know much about Clive Palmer the man.
But after the weekend deal of a century the Gold Coaster is truly standing in the international spotlight.
Mr Palmer and Premier Anna Bligh announced a $69billion deal to export coal to China, which the Broadbeach Waters resident says will create thousands of jobs in Queensland and likely restore the state's AAA credit rating.
His company Resourcehouse will supply 30 million tonnes a year to China for 20 years.
The coal will be mined from the Galilee Basin region near Alpha, west of Emerald.
A private 495km rail line will be built and new jetties and ports erected at Abbott Point, near Bowen.
The royalties from the sales are expected to tip more than $700 million into the State Government's coffers each year from 2014, while creating 7500 direct jobs and 50,000 to 60,000 indirect jobs across the state.
Mr Palmer, a life member of the state opposition Liberal National Party and a former state director of the National Party, said the Export-Import Bank of China had financed a $6 billion loan but emphasised the project was 100 per cent Australian-owned. The man who turns 56 next month wakes up millions of dollars richer every day.
He studied journalism at university but opted for Gold Coast property investment as a career instead.
Mr Palmer's biggest break came in the mid-1980s when he took over the assets of two US mining companies in the Pilbara region.
They were exiting Australia and Mr Palmer was just about to become one of the richest men in the land, riding on the commodities boom, an understanding of how to do business with China and a relentless work ethic.
Exactly how much he is worth, no one is sure. It has been estimated that his fortune lies between $1.5billion and $6.5 billion, but that was before Saturday's $60 billion deal.
His fortune has been built with two key men beside him Clive Mensink and Geoff Smith directors of Mineralogy and Gold Coast United and more among the dozens that Mr Palmer controls.
The China deal through Resourcehouse features former Opposition leader Alexander Downer as a director along with Domenic Martino, Mr Mensink, Baohua Bai and Zhengrong Chi, of Beijing, Peter Lynch, of NSW, American John Elmore and former Briton Derek Payne. - excerpt from goldcoast.com.au (dated 8 Feb, 2010)
Mr Palmer and Premier Anna Bligh announced a $69billion deal to export coal to China, which the Broadbeach Waters resident says will create thousands of jobs in Queensland and likely restore the state's AAA credit rating.
His company Resourcehouse will supply 30 million tonnes a year to China for 20 years.
The coal will be mined from the Galilee Basin region near Alpha, west of Emerald.
A private 495km rail line will be built and new jetties and ports erected at Abbott Point, near Bowen.
The royalties from the sales are expected to tip more than $700 million into the State Government's coffers each year from 2014, while creating 7500 direct jobs and 50,000 to 60,000 indirect jobs across the state.
Mr Palmer, a life member of the state opposition Liberal National Party and a former state director of the National Party, said the Export-Import Bank of China had financed a $6 billion loan but emphasised the project was 100 per cent Australian-owned. The man who turns 56 next month wakes up millions of dollars richer every day.
He studied journalism at university but opted for Gold Coast property investment as a career instead.
Mr Palmer's biggest break came in the mid-1980s when he took over the assets of two US mining companies in the Pilbara region.
They were exiting Australia and Mr Palmer was just about to become one of the richest men in the land, riding on the commodities boom, an understanding of how to do business with China and a relentless work ethic.
Exactly how much he is worth, no one is sure. It has been estimated that his fortune lies between $1.5billion and $6.5 billion, but that was before Saturday's $60 billion deal.
His fortune has been built with two key men beside him Clive Mensink and Geoff Smith directors of Mineralogy and Gold Coast United and more among the dozens that Mr Palmer controls.
The China deal through Resourcehouse features former Opposition leader Alexander Downer as a director along with Domenic Martino, Mr Mensink, Baohua Bai and Zhengrong Chi, of Beijing, Peter Lynch, of NSW, American John Elmore and former Briton Derek Payne. - excerpt from goldcoast.com.au (dated 8 Feb, 2010)
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