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Palmer blames Chinese nemesis for $2.3b loss

Embattled billionaire Clive Palmer is directly blaming his Chinese nemesis CITIC for the collapse of his nickel empire in a new legal action which claims its failure to pay him royalties meant the Queensland company folded with a personal loss to the former MP of $2.3 billion. The West


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The changing of the law in Tanzania is an example of the arbitrariness of some African governments and the pitfalls of attempting to develop projects in Africa. In my many years mining on that continent, I have seen Australian companies fail repeatedly to come to grips with the way things operate in Africa at government, employee and other levels. Not sure whether this is due to arrogance on the part of us Australians or a lack of cultural sensitivity (maybe both).

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