Clive Palmer offers development land to CITIC Pacific

Mineralogy head Clive Palmer has confirmed his company offered thousands of square kilometres of land to CITIC Pacific for the development of its Sino Iron project in Western Australia.

Chinese state-backed CITIC and subsidiaries Sino Iron and Korean Steel are embroiled in legal action with Mineralogy as the former claims that Mineralogy, which holds the Sino Iron tenements, is withholding critical approvals related to the continuation of the mine.

Palmer responded by stating that Mineralogy offered to make land available to CITIC for $750 million in addition to royalties, but that the company didn’t want to pay.

“The problem is the Chinese don’t want to pay for anything,” he said.

“They want the Western Australian Government to take land for free from Australian companies and individuals despite the fact there is a State agreement in place.

“It’s unconscionable that a Chinese Government-owned company demands that the WA Government jumps to their tune by giving land to them for free.”

Palmer also stated that CITIC’s legal action was in breach of the obligations of a 2014 State agreement for a $500 million contribution towards eventual mine rehabilitations.

“This behaviour undermines the rights and protection of Australians. It severely breaches obligations of the WA Government to Mineralogy under the State agreement, exposing the Western Australian people to large damage claims,” said Palmer.

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