One of the country’s main mining employers has stopped short of assuring his workers their jobs are safe.

Millionaire and political hopeful Clive Palmer addressed workers at one of his Queensland operations, saying through his shrewd business practices he has secured the future of the nickel industry, forged tighter bonds with Asian interests and created a possible 500 new jobs.

Mr Palmer was moved to speak to his workers after Queensland Premier Campbell Newman said he should “make some guarantees”, following allegations his company was heading for a tough financial future. Queensland Nickel reportedly posted a $58 million loss last year, there have also been reports the company was forced to reach out to creditors or risk the loss of hundreds of jobs.

Clive Palmer claims to have invested his own funds to right the ship. He says his company will now save $120 million per year, pushing annual profits to the $200 million range.

Palmer will also run for the seat of Fairfax on the Gold Coast in the upcoming election.