Aussie mining tycoon Clive Palmer is being sued by China’s largest conglomerate, CITIC, over his alleged “refusal” to co-operate in making more land available on a major iron ore project in Western Australia.
Citic Pacific Mining News
He said he would open up after a creditors meeting next week in Townsville, where his his Queensland Nickel company is based.
The fresh legal action is part of an ongoing dispute between the parties over mining royalties in Western Australia.
The scale of the fraud alleged against the tycoon-turned-politician may double to about A$23 million.
Today’s interim injunction prevents Mineralogy from stripping its Chinese business partner from its iron ore mining rights in the Pilbara.
In a letter to China's ambassador to Australia, Clive Palmer expressed regret for "any insult to the Chinese people caused by any of the language" he used.
Clive Palmer has come under fire for labelling the Chinese government “mongrels” and “bastards” on national television.
China's Citic Pacific's $8 billion magnetite mine in Australia has finally gone into production.