29/01/2008 - 12:59

Clive Palmer pledges $100m for WA medical research

29/01/2008 - 12:59

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Mining magnate Clive Palmer has pledged $100 million to medical research in Western Australia, stating that it was the first of a planned $1 billion giving campaign.

Clive Palmer pledges $100m for WA medical research

Mining magnate Clive Palmer has pledged $100 million to medical research in Western Australia, stating that it was the first of a planned $1 billion giving campaign.

The Queensland-based magnate has become wealthy on the back of soaring iron ore prices and new interest in WA's once unfashionable magnetite deposits where Australasian Resources Ltd and Chinese giant CITIC Pacific are well advanced with plans to develop mines.

Mr Palmer dominates the register of Australasian.

 

Below is the full announcement:

The Chairman of Mineralogy Pty Ltd (Mineralogy) and one of Australia wealthiest individuals Professor Clive F Palmer announced the establishment of a new charitable foundation with one hundred million dollars to be provided by Mineralogy for Western Australian Medical Research and for the support and development of aboriginal communities in the Pilbara.
Mineralogy is in the process of setting up a foundation which will provide a planned hundred million dollars from the payments Mineralogy receives for the development of its iron ore project from Chinese owned Sino Iron Pty Ltd to support Western Australian Medical research and provide direct intervention aid and support to Aboriginal and poor communities in the Pilbara.
Professor Palmer stated that it is time for the leaders of development in Western Australia to realise that development means more than just a material increase in the states exports. It's time to address the problems of the poor and needy and those unable to support themselves in the Pilbara and Western Australia generally," Professor Palmer stated.
"What's needed is more love and forgiveness to be extended to those less fortunate than ourselves and the reconciliation of man to his brothers in aboriginal communities.
"I hope when this foundation is established it is a start to lead by example for other Resource Companies is they Public or Private companies or individuals to realise the need to support those less fortunate than the average Australians.
"The hundred million dollars planned from Mineralogy Sino Deal is but a start we plan to target over one billion dollars of support for fellow Australians.
"My wife tragically died of cancer in 2006 when she was 52 and my family wants to do all we can to assist families who face some of the challenges that life has to offer those facing that and similar situations,
"In the Pilbara we must establish the infrastructure and services necessary to support families and the long term development of communities such as Roebourne and the support Roebourne families needs."
"As Robert Kennedy once said "an injustice to a man anywhere is an injustice to all men everywhere" It is time to put in place long term plans with industry taking the lead to ensure that long term injustices are not passed from one generation to another." said Professor Palmer.
Professor Palmer stated the foundation would be one of his main tasks in future years to support the Western Australian and Pilbara Communities.
"Western Australian Medical Research has in some areas for a long time been of a world class standard, and deserves much more support. We need to make access to funding and resources more efficient so that medical researchers can see and understand the contributions they make each year (as well as health workers) make a real diffidence to lives of all of us.
"We also believe that from those to whom much is given, much is expected. Many Australians have benefited from the current Resource Boom as well as Government and a vibrant economic system. That is why I feel and we all have a real responsibility to give back to society."

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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