Mineralogy (mining company)

Mineralogy
Company typePrivate
IndustryMining
Founded1984
FounderClive Palmer
Headquarters
Australia
ProductsIron ore
  • Increase A$354 million (2018 Audited)
Total assets
  • Increase A$594 million (2018 Audited)
Total equityA$451 million (2018 Audited)
OwnerClive Palmer
SubsidiariesWaratah Coal
Websitewww.mineralogy.com.au

Mineralogy is an Australian mining company owned by Clive Palmer. The company is involved in mining exploration and development, principally iron ore, in Western Australia. Mineralogy had assets of A$594 million in 2018. It entered a US$415 million arrangement with the Chinese company CITIC in 2006. Mineralogy and CITIC have been in legal disputes over royalties and other matters since 2013.

History

Mineralogy was founded in 1984 by Clive Palmer, who had become wealthy through property development in the Gold Coast. In 1985, the company acquired exploration leases for magnetite tenements in Cape Preston, Pilbara, from the U.S. iron ore processor M. A. Hanna Company. Palmer transferred the tenement's soon-to-expire exploration rights to his Queensland property company, GSS Homes.[1]

In 2006, it signed a deal with the Chinese infrastructure company CITIC Pacific to develop a small portion of a large iron ore deposit in the Pilbara region of Western Australia.[2] The agreement involved the development of two magnetite mines and construction of port infrastructure at Cape Preston. According to Palmer the company owns more than 1,000 square kilometres (390 sq mi) of land in the region.[2] Mineralogy was paid US$415 million for the rights to mine the ore.[3] According to Palmer the reserves contain 160 billion tonnes of iron ore.[4]

In 2009, Mineralogy acquired the Australian coal mining company Waratah Coal. By 2012, Mineralogy acquired the rights to thermal coal deposits situated in the Galilee Basin.[5] Estimates of the size of the deposits reach 100 billion tonnes of coal.[6]

Mineralogy has been in a long-running legal dispute with CITIC Limited's (formerly CITIC Pacific Limited) Australian subsidiary companies that are exploiting the magnetite mine in the Pilbara region of Western Australia. In 2013 Mineralogy commenced legal proceedings to resolve a dispute about royalties it claimed to be due to it, which in 2017 the Western Australian Supreme Court delivered judgement in favour of Mineralogy.[7] The CITIC parties appealed the decision of the trial judge to the Court of Appeal, but lost.[8]

The outcome of the proceedings above is that Mineralogy received US$350 million with ongoing royalties of US$ 200 million annually.[9] As at 30 June 2018, Mineralogy had consolidated Net Asset Position reported at a value of AUD $451 million (audited).[10]

On 27 September 2018, Clive Palmer also confirmed that as a result of the wins in the Western Australian Courts and the subsequent payments of royalties to Mineralogy, work has re-commenced by Mineralogy subsidiary Blue Star Line to build the ocean liner Titanic II.[11] The ship was forecast to set sail in 2022, and to follow the original route of the Titanic.[12]

Mineralogy took Western Australia to the High Court over the Iron Ore Processing (Mineralogy Pty Ltd) Agreement Amendment Act 2022 in Mineralogy v Western Australia, but lost.[13]

As of 2023, Mineralogy has ten exploration and prospecting permits in New Zealand, spanning over 306,000 ha (760,000 acres), over 93,000 ha (230,000 acres) of which overlap with conservation land, including near Lake Brunner.[14]

Political donations

Clive Palmer established the United Australia Party in 2013. In 2022, Mineralogy donated $116 million dollars to the United Australia Party, which won a single seat in the upper house in the 2022 federal election.[15][16]

See also

References

  1. ^ Barrett, Jonathan (13 June 2014). "The mythology behind Clive Palmer's Mineralogy". Australian Financial Review.
  2. ^ a b "Mineralogy sign $5b iron ore deal". The Age. 3 April 2006. Retrieved 10 November 2011.
  3. ^ Fraser, Andrew; Burrell, Andrew (13 February 2010). "The magnate's Chinese whispers". The Australian. Retrieved 10 November 2011.
  4. ^ "Clive Palmer". Gold Coast Bulletin. 7 June 2008. Retrieved 14 April 2012.
  5. ^ "Magnate's company paid no tax". Brisbane Times. 12 April 2012. Retrieved 27 April 2012.
  6. ^ Khadem, Nassim (30 November 2011). "Meet Clive Palmer: Busy one day, frantic the next". BRW. Archived from the original on 23 September 2015. Retrieved 14 April 2012.
  7. ^ "Mineralogy Pty Ltd -v- Sino Iron Pty Ltd [No.16] [2017] WASC 340". eCourts Portal of Western Australia. 24 November 2017. Retrieved 8 July 2019.
  8. ^ "Sino Iron Pty Ltd -v- Mineralogy Pty Ltd [2019] WASCA 80". eCourts Portal of Western Australia. 21 May 2019. Retrieved 8 July 2019.
  9. ^ "2018 AFR Rich List: Clive Palmer is back and has his eye on top spot". Australian Financial Review. 18 May 2018. Retrieved 8 July 2019.
  10. ^ "Financial Report Financial Report - Large Proprietary Company That Is Not A Disclosing Entity (FR 2018) (388H)' filed with the Australian Securities and Investments Commission". Australian Securities and Investments Commission. 5 December 2018. Retrieved 8 July 2019.
  11. ^ "PALMER BUILDING TITANIC ll -". 27 September 2018. Retrieved 8 July 2019.
  12. ^ Deabler, Alexandra (28 October 2018). "Titanic II to set sail in 2022, following original route". Fox News. Retrieved 8 July 2019.
  13. ^ "Clive Palmer suffers major blow in $30 billion damages claim against WA over iron ore project". ABC News. 25 November 2020. Retrieved 13 September 2022.
  14. ^ Norman, Cushla (25 May 2023). "Mining giant sets sights on NZ, including conservation land". 1News.
  15. ^ "Clive Palmer's company gave $116m to his political party before the federal election". ABC News. 1 February 2023. Retrieved 15 February 2023.
  16. ^ Knaus, Christopher; Evershed, Nick; Karp, Paul (1 February 2023). "Clive Palmer's mining company pumped $116m into UAP at 2022 election, helping it outspend major parties". The Guardian. ISSN 0261-3077. Retrieved 15 February 2023.

Read other articles:

Jezero craterJezero crater on edge of Isidis basinPlanetMarsDiameter490 km (300 mi)EponimJezero Kawah Jezero (kanan bawah) terlihat dari Pengorbit Viking 1 Jezero ( /ˈjɛzəroʊ/ yez-Ə-roh atau /ˈdʒɛzəroʊ/ jez-Ə-roh )[1] adalah sebuah kawah di Mars yang terletak di koordinat 18°23′N 77°35′E / 18.38°N 77.58°E / 18.38; 77.58.[2] Kawah ini memiliki diameter sekitar 490 km (300 mi). Dahulu kawah ini diduga pernah dibanjir...

 

Species of bat found in Mexico Least yellow bat Conservation status Vulnerable  (IUCN 3.1)[1] Scientific classification Domain: Eukaryota Kingdom: Animalia Phylum: Chordata Class: Mammalia Order: Chiroptera Family: Vespertilionidae Genus: Rhogeessa Species: R. mira Binomial name Rhogeessa miraLaVal, 1973 The least yellow bat (Rhogeessa mira) is a species of vesper bat found only in Mexico. References ^ Arroyo-Cabrales, J.; Ospina-Garces, S. (2016). Rhogeessa mira. IUCN Red L...

 

4-S WaKoFest, Wn La Mare MillPart of Atlantic WallLa Mare Mill, St. Ouen's Bay, Jersey The well camouflaged turretFlag of German occupying forcesCoordinates49°12′47″N 2°12′43″W / 49.212989°N 2.212072°W / 49.212989; -2.212072Site informationOpen tothe publicYesConditionRestored, retains turretSite historyBuilt1941-45 (1941-45)Built byOrganisation TodtIn use1941–45MaterialsConcrete, steelEventsOccupation of the Channel IslandsGarri...

Department of the Government of Australia Department of Veterans' AffairsDepartment overviewFormed5 October 1976; 47 years ago (1976-10-05)Preceding departmentDepartment of Repatriation (1975–1976)JurisdictionAustralian GovernmentEmployees1,851 (at June 2022)[1]Minister responsibleMatt Keogh, Minister for Veterans' AffairsDepartment executiveAlison Frame, SecretaryChild agenciesAustralian War MemorialMilitary Rehabilitation and Compensation CommissionOffice of Aust...

 

Disambiguazione – Se stai cercando riferimenti al film ungherese Le mille e una notte, vedi Le mille e una notte (film 1940). Questa voce o sezione sull'argomento filosofi non cita le fonti necessarie o quelle presenti sono insufficienti. Puoi migliorare questa voce aggiungendo citazioni da fonti attendibili secondo le linee guida sull'uso delle fonti. Segui i suggerimenti del progetto di riferimento. La tomba di Gül Baba a Budapest. Gül Baba (... – Buda, 2 settembre 1541) è stat...

 

Untuk distrik di Provinsi Vĩnh Phúc, lihat Distrik Bình Xuyên. Pasukan Binh XuyenBộ đội Bình XuyênLambang perang.Aktif1945 – 1960Negara Republik Demokratik Vietnam Cochinchina Vietnam SelatanTipe unitMiliterJulukanBinh Xuyen GroupBinh Xuyen ForcePolisi Sukarelawan Binh XuyenMotoKehormatan - Tanah AirWarnaMerah, biru, kuningPertempuranPertempuran Hoang DieuTokohTokoh berjasaDương Văn DươngHuỳnh Văn TrọngDương Văn HàVõ Văn MônLê Văn ViễnThái Hoàng MinhNg...

French army officer and statesman (1890–1970) De Gaulle redirects here. For the film, see De Gaulle (film). For other uses, see Charles de Gaulle (disambiguation). In this article, the surname is De Gaulle, not Gaulle. Charles de GaulleWartime portrait, 194218th President of FranceIn office8 January 1959 – 28 April 1969Prime Minister Michel Debré Georges Pompidou Maurice Couve de Murville Preceded byRené CotySucceeded byGeorges PompidouPrime Minister of FranceIn office1 June 19...

 

Dutch Caribbean island Saba Island redirects here. For the island south of St. Thomas, see Saba Island (United States Virgin Islands). Special municipality in Caribbean Netherlands, NetherlandsSabaSpecial municipality FlagCoat of armsMotto(s): Remis Velisque (Latin)With oars and sails (English)Anthem: Saba you rise from the oceanLocation of Saba (island) (circled in red)in the CaribbeanMap showing location of Saba relative to Sint Eustatius and Saint Martin.Coordinates: 17°37�...

 

Parti socialiste unifié du Venezuela(es) Partido Socialista Unido de Venezuela Logotype officiel. Présentation Président Nicolás Maduro Fondation 24 mars 2007 Siège Mariperez, Caracas, Venezuela Vice-président Diosdado Cabello Fondateur Hugo Chávez Organisation de jeunesse Jeunesse du Parti socialiste unifié du Venezuela (en) Journal Cuatro F Hymne La Hora del Pueblo(L'heure du peuple)[1] Positionnement Gauche[2] à gauche radicale[3],[4],[5] Idéologie Socialisme du XXIe s...

Eccidio di VincaeccidioMonumento alle vittime della strage nel cimitero di Vinca Data24 agosto 1944 LuogoVinca, Equi Terme, Monzone frazioni del comune di Fivizzano, Gragnola frazione del comune di Fosdinovo, provincia di Massa Carrara. Stato Italia Provincia Massa-Carrara ObiettivoCivili Responsabili16. SS-Panzergrenadier-Division Reichsführer-SS20. Luftwaffen-Feld-DivisionXL Brigata Nera Vittorio Ricciarelli di Livorno MotivazioneTerrorismoTerra bruciata ConseguenzeMorti173 morti...

 

此条目序言章节没有充分总结全文内容要点。 (2019年3月21日)请考虑扩充序言,清晰概述条目所有重點。请在条目的讨论页讨论此问题。 哈萨克斯坦總統哈薩克總統旗現任Қасым-Жомарт Кемелұлы Тоқаев卡瑟姆若马尔特·托卡耶夫自2019年3月20日在任任期7年首任努尔苏丹·纳扎尔巴耶夫设立1990年4月24日(哈薩克蘇維埃社會主義共和國總統) 哈萨克斯坦 哈萨克斯坦政府...

 

Військово-музичне управління Збройних сил України Тип військове формуванняЗасновано 1992Країна  Україна Емблема управління Військово-музичне управління Збройних сил України — структурний підрозділ Генерального штабу Збройних сил України призначений для планува...

Військово-музичне управління Збройних сил України Тип військове формуванняЗасновано 1992Країна  Україна Емблема управління Військово-музичне управління Збройних сил України — структурний підрозділ Генерального штабу Збройних сил України призначений для планува...

 

For the implementation of Python under the .NET Framework, see IronPython. Advanced interactive shell for Python IPython ShellOriginal author(s)Fernando Perez[1]Developer(s)Brian E. Granger, Min Ragan-Kelley, Paul Ivanov, Thomas Kluyver, Matthias BussonnierInitial release2001; 23 years ago (2001)[1]Stable release8.24.0[2]  / 26 April 2024; 27 days ago (26 April 2024) Repositorygithub.com/ipython/ipython Written inPython, JavaScript, ...

 

This article is about an Italian cheese. For the phrase, see Bel paese (phrase). This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Bel Paese cheese – news · newspapers · books · scholar · JSTOR (August 2016) (Learn how and when to remove this message) Semi-soft Italian cheese type Bel PaeseCountry of orig...

Вулиця Гетьмана Павла СкоропадськогоКиїв Бульварна частина вулиці Гетьмана Павла Скоропадського в Києві, листопад 2011 рокуМісцевість ПаньківщинаРайон Голосіївський, Солом'янський, ШевченківськийНазва на честь Гетьмана України Павла СкоропадськогоКолишні назви Шуля�...

 

У Вікіпедії є статті про інші значення цього терміна: 1917 (значення). Рік: 1914 · 1915 · 1916 — 1917 — 1918 · 1919 · 1920 Десятиліття: 1890-ті · 1900-ті — 1910-ті — 1920-ті · 1930-ті Століття: XVIII · XIX —  XX — XXI · XXII Тисячоліття: 1-ше — 2-ге — 3-тє 1917 в інших календар...

 

Suburb of Sydney, New South Wales, AustraliaSydney Olympic ParkSydney, New South WalesAn aerial view of the Olympic complex, 2012Coordinates33°50′51″S 151°03′54″E / 33.84750°S 151.06500°E / -33.84750; 151.06500Population4,848 (2021 census)[1] • Density731.2/km2 (1,893.9/sq mi)Established1996 (locality) & 2009 (suburb)Postcode(s)2127Elevation15 m (49 ft)Area6.63 km2 (2.6 sq mi)Location13 km (8&...

1905-1953 French automotive brand manufacturer For other uses, see Delage (disambiguation). This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed.Find sources: Delage – news · newspapers · books · scholar · JSTOR (October 2007) (Learn how and when to remove this message) DelageFounded1905; 119 years ago (1905)...

 

Handball at the Olympics International handball competition Handball at the 1936 Summer OlympicsTournament detailsHost country GermanyVenue(s)3 (in 1 host city)Dates6–14 August 1936Teams6Final positionsChampions Germany (1st title)Runner-up AustriaThird place  SwitzerlandFourth place HungaryTournament statisticsMatches played13Goals scored239 (18.38 per match)Top scorer(s) Hans Theilig(22 goals)Next → Handball Field handball at th...