CITIC laughs off ‘empty’ Mineralogy vacate threat
■ Federal MP Clive Palmer’s private interests have refused to be put off by a damning loss in the Federal Court, last week threatening a fresh campaign in the long-running royalties war with CITIC Pacific to try to kick the Chinese group off the $10 billion Sino Iron mine.
The threat was immediately laughed off by CITIC, which dismissed Palmer company Mineralogy’s warning as “empty” and pointed out no court applications had been filed.
“Mineralogy has a long history of making threats against the project — all have failed, ” a CITIC spokesman said.
“We note Mineralogy has not even sought an order from the court. We don’t expect operations will be impacted by this latest empty threat.”
CITIC’s outburst was sparked by a Mineralogy declaration yesterday it “has moved to retake possession of its iron ore site” occupied by CITIC and would issue notices to deliver vacant possession and cease occupation, under WA’s Mining Act.
Mineralogy chairman Clive Mensink said in a statement the applications came with 60-day notice periods, though no mention was made of when he expected the action to start.
The threat is the latest in a longrunning battle between Mineralogy and CITIC over royalty flows from Sino Iron, which is based on tenements held by the Palmer company.
Mineralogy has long claimed CITIC had reneged on the agreed royalties schedule.
Mineralogy’s battle suffered a major setback three months ago when a long-running campaign to kick CITIC off Sino Iron’s Cape Preston port failed.