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Australian tycoon's 'rape' tirade against Chinese firm

Published on Feb 7, 2014 10:53 AM

SYDNEY (AFP) - Outspoken resources tycoon Clive Palmer condemned the "rape and disrespect" of Australia by foreign firms in a spat with a Chinese miner that warned the case was being watched closely in Asia.

Mr Palmer is locked in a long-running dispute over royalties and port operations with Hong Kong-based Citic Pacific over its Sino Iron magnetite project, a partnership with China's state-owned Metallurgical Group Corporation.

Citic is mining for magnetite iron ore on Mr Palmer's sprawling Australian Mardie Station cattle farm under a 25-year lease. But the two parties have clashed over what share of the proceeds are owed to the Australian businessman and whether his company, Mineralogy, is the legal operator of the project's export terminal at Port Preston.

Mr Palmer lashed out at Citic after a court ruling on Thursday in his favour on the port, accusing the Chinese of having "occupied the port and shipped Australian resources to China without paying full consideration".

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