Zhang Jijing, president of Chinese company Citic Pacific, says that other Chinese organisations will be watching Citic's legal battle with Mineralogy, a business owned by Clive Palmer. The two entities agreed in 2006 that Citic could mine and export from Mineralogy land. But disputes have broken out since then about rights to export and the calculation of royalties. A Melbourne court has now held that Mineralogy still controls the port through which exports have been made. In the dispute, Mr Palmer has accused Citic of 'stealing Australian resources'. Mr Zhang has said that such statements are 'just plain rubbish', and he has said that future Chinese investment might be affected by the outcome of the disagreements. Source: The Age
Email your news and story ideas to: [email protected]
