Iron ore producer CITIC Pacific Mining plans to slash output by 33 per cent and flagged the possibility of suspending operations, blaming a legal standoff with Clive Palmer.
Clive Palmer has launched another legal action against CITIC and its executives, alleging they conspired to injure and embarrass him through court proceedings over the past decade.
CITIC Pacific Mining has challenged conventional wisdom around magnetite production, citing a study that shows lower lifecycle emissions compared to traditional iron ore.
Chinese company CITIC Pacific Mining could be forced to pay hundreds of millions of dollars to Clive Palmer to gain access to additional land for its Sino Iron project after being strongly criticised in a Supreme Court ruling.
A move to use lasers to perfectly load rail cars is worth about $300 million to BHP and is an example of how the area around the town of Newman is world class in applying technology to resources.
Supreme Court justice Kenneth Martin has slammed the long-running legal battle between Clive Palmer's Mineralogy and CITIC Pacific Mining as a massive, unnecessary waste of judicial resources, with both parties bearing responsibility.
Chinese group Citic has decided to appeal a ruling from the Supreme Court of Western Australia ordering the company to pay Clive Palmer nearly $US150 million in royalties on its Sino Iron project in the Pilbara.
Perth-based CITIC Pacific Mining has hit its 2017 production target of 15 million tonnes of magnetite concentrate at its Sino Iron project in the Pilbara, while also releasing a study that shows spending of $51 billion in Western Australia over the next 40 years.
Clive Palmer's Mineralogy has again failed in its long-running court battle with its estranged Chinese joint-venture partner over the Cape Preston port in the Pilbara.
A $69 million gas storage facility will be built near Onslow by Duet Group subsidiary DBP Development Group to help producers and consumers smooth production profiles and cover planned outages.
It's the end of the beginning for what had been Western Australia's only remaining major iron ore project under construction, Citic Pacific's Sino Iron, according to chief executive Chen Zeng, as the final two of six magnetite ore processing lines enter production.
South Perth-based iron ore company Aztec Resources Ltd has signed a sales contract with one of its shareholders, China-based CITIC Australia Commodity Trading Ltd.
