Australian mining magnate sues the Government for carbon tax

Australian mining tycoon Clive Palmer will be mounting a High Court challenge against the Government's carbon tax, he told ABC News’ 7.30 Report.

According to Palmer, the legislation is “unconstitutional” and “discriminatory” against his company Queensland Nickel.

In the interview, the magnate said Australia’s carbon tax, due to start on July 1, was a "joke" adding that his company was getting less compensation under it than rivals BHP Billiton and Glencore.

"You can't treat citizens that way," he said. "You can't discriminate. I guess a company is like a person. All persons should be treated equally under the law.”

The Federal Government dismissed Palmer's threat as an exercise in self-interest. Climate Change Minister Greg Combet said the legislation is on very firm ground constitutionally, reports The Sydney Morning Herald.

You can watch Palmer’s full TV interview here: