Clive Palmer's Mineralogy has won its long-running legal battle against its estranged Chinese joint venture partner in Western Australia.
The companies had disputed calculations for royalty payments from the multi- billion dollar Sino Iron project, which CITIC built and operates, drawing ore from Mineralogy-owned land.
SHARE
SHARE ON FACEBOOK SHARE
SHARE ON TWITTER TWEET
LINK
Clive Palmer's Mineralogy claims it is owed money by Sino Iron. Photo: AAP
On Friday, WA Supreme Court Justice Kenneth Martin concluded CITIC's wholly owned subsidiaries Sino Iron and Korean Steel must pay Mineralogy $74.7 million but he needs further submissions before reaching his final position regarding CITIC being their guarantor.
ARH Price at posting:
0.5¢ Sentiment: None Disclosure: Held