China's CITIC wins interim injunction in Mineralogy dispute

Chinese-owned CITIC has won an interim injunction temporarily halting a bid by Australian tycoon Clive Palmer's company Mineralogy to terminate its mining rights to a multi-billion dollar iron ore project. Mineralogy said Friday it had served a notice of termination to CITIC Pacific which gave it 21 days before it would no longer be allowed to mine at the Sino Iron project in Western Australia's resource-rich Pilbara region. But the Supreme Court of Western Australia heard an application from CITIC in Australia later Friday, and issued an interim injunction against Mineralogy acting on the termination notice. "CITIC is pleased that the WA Supreme Court has granted an interim injunction preventing Mineralogy from terminating or suspending the Sino Iron Project," the company said in a statement. "The court has also restrained Mineralogy from issuing further termination or suspension notices. This ensures that operations at Sino Iron can continue without interruption." Palmer is locked in a long-running legal dispute over royalties and port operations with CITIC Pacific relating to the Sino Iron project, which has been exporting quality iron ore concentrate. The interim injunction is in place until December 18, when another hearing is scheduled.