Reuters reported CITIC Pacific has filed a court injunction against Clive Palmer over disputed royalties at the $8 billion Sino iron project in Western Australia.
As quoted in the market news:
The project, China’s largest foreign mining investment, is one of a number of Australian resource projects that have suffered from cost overruns and delays due to a shortage of skilled labour and higher prices for equipment and construction materials.
A joint venture between CITIC Pacific Ltd and Metallurgical Corp of China Ltd, Sino Iron was established in January 2007.
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