https://www.miningweekly.com

Mineralogy claims court victory in Citic royalty case

1st July 2016

By: Mariaan Webb

Creamer Media Contract Publishing Editor

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Billionaire Clive Palmer’s Mineralogy has claimed a victory against former partner China-owned Citic, with the Supreme Court of Western Australia Court of Appeals finding that an application for an injunction should be reheard.

Last year, the Supreme Court of Western Australia ruled against Palmer, which claimed that Citic owed him a $48-million advance on disputed royalties from the Sino Iron project, in the Pilbara.

Palmer said on Friday that the Court of Appeals had, in effect, found that the royalty to Mineralogy was calculable and could be determined.

However, a Citic Pacific Mining spokesperson said that the Appeals Court decision simply meant that Mineralogy's application for an injunction would be reheard and stressed that the court had not made an order for any payment.

“It’s important to remember that the trial of Mineralogy's claim for royalty component B is yet to take place. At the trial, the parties will each present their evidence," the Citic spokesperson stated.

Citic bought the rights to its Sino Iron project from Mineralogy for $415-million in 2006 and agreed to pay royalties once production started. The two companies have been fighting a series of court cases over how much is owed.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 
Werner South Africa Pumps & Equipment (PTY) LTD
Werner South Africa Pumps & Equipment (PTY) LTD

For over 30 years, Werner South Africa Pumps & Equipment (PTY) LTD has been designing, manufacturing, supplying and maintaining specialist...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.052 0.95s - 123pq - 2rq
Subscribe Now