'Personal attack': Palmer's nickel woes

Clive Palmer says he's being "personally attacked" as the future of his cash-strapped north Queensland nickel refinery hangs in the balance.

The mining-magnate-turned-politician on Thursday afternoon issued a 771-word statement to "set the record straight" about Queensland Nickel's Yabulu refinery, near Townsville, as speculation mounts that it could go into administration and put more than 700 employees out of work before Christmas.

"It is evident that I am being personally attacked because I am a politician," Mr Palmer said.

Mr Palmer said he hadn't been a director of any of the companies he owned since he became the federal member for the Sunshine Coast seat of Fairfax in 2013, at which time he "retired from business".

"Notwithstanding, comments continue to be made about me so I am going to respond," he said.

Mr Palmer said Queensland Nickel had unencumbered net assets of $1.95 billion, but a low nickel price meant the company was experiencing a "small deficit in cash flow".

He said all four major Australian banks have refused to provide the company with a $35 million overdraft.

The banks would only lend to the company if the Queensland government acted as guarantor for the "small amount of money being sought", Mr Palmer said.

"At no time did Queensland Nickel request taxpayer funds, only a guarantee from the Queensland government and for security of the guarantee for $35 million, Queensland Nickel offered its balance sheet of nearly $2 billion," he wrote.

"This is a risk-free proposition that would ensure the continued operation of the refinery."

Mr Palmer said Premier Annastacia Palaszczuk and Treasurer Curtis Pitt "do not seem to concerned about the people of north Queensland", given the refinery contributed $1.6 billion a year to the Townsville economy.

He called for Ms Palaszczuk to meet with himself or Queensland Nickel Managing director Clive Mensink for "urgent discussions".

Both sides of politics have urged the self-proclaimed billionaire to use his own wealth to bail out the struggling facility.

Ms Palaszczuk said earlier on Thursday her government was willing to help, but accused Mr Palmer of hiding the smelter's balance sheet.

"The government needs to have the full facts presented to it and unfortunately we're not getting that at this point in time," she said.

"We've made it very clear that the government does need the full facts and that Mr Palmer needs to very full and frank with his workforce."

Fears mounted earlier this week Queensland Nickel could fall into imminent administration after another Palmer company, Mineralogy, lost a legal bid to have an estranged Chinese business partner pay millions in "outstanding royalty payments".