Mineralogy is a mining company owned by

Clive Palmer Clive Frederick Palmer (born 26 March 1954) is an Australian businessman and politician. He has iron ore, nickel, and coal holdings. Palmer owns many businesses such as Mineralogy, Waratah Coal, Queensland Nickel at Townsville, the Palmer C ...

Queensland ) , nickname = Sunshine State , image_map = Queensland in Australia.svg , map_caption = Location of Queensland in Australia , subdivision_type = Country , subdivision_name = Australia , established_title = Before federation , establishe ...

, Australia. Mineralogy's mining projects are now producing and generating income. Mineralogy signed a deal with the Chinese infrastructure company

CITIC Pacific CITIC Limited () is a conglomerate headquartered in Hong Kong. Its shares are listed on the Main Board of the Hong Kong Stock Exchange, and it is a constituent of the Hang Seng Index. 58% of its issued shares are owned by the Chinese state-own ...

to develop a small portion of a large iron ore deposit in the

Pilbara The Pilbara () is a large, dry, thinly populated region in the north of Western Australia. It is known for its Aboriginal peoples; its ancient landscapes; the red earth; and its vast mineral deposits, in particular iron ore. It is also a g ...

region of

Western Australia Western Australia (commonly abbreviated as WA) is a state of Australia occupying the western percent of the land area of Australia excluding external territories. It is bounded by the Indian Ocean to the north and west, the Southern Ocean to th ...

. The agreement involves the development of two

magnetite Magnetite is a mineral and one of the main iron ores, with the chemical formula Fe2+Fe3+2O4. It is one of the oxides of iron, and is ferrimagnetic; it is attracted to a magnet and can be magnetized to become a permanent magnet itself. With th ...

mines and construction of port infrastructure at

Cape Preston Cape Preston is a rocky headland located in the Pilbara region of Western Australia, situated West South West of Karratha. It lies on the tribal land of the indigenous Nhuwala. Cape Preston is a standard Bureau of Meteorology reference point ...

. According to Palmer the company owns more than of land in the region. Mineralogy was paid 415 million for the rights to mine the ore. According to Palmer the reserves contain 160 billion tonnes of iron ore. The company owns thermal coal deposits situated in the

Galilee Basin The Galilee Basin is a large inland geological basin in the western Queensland region of Australia. The Galilee Basin is part of a larger Carboniferous to Mid-Triassic basin system that contains the Cooper Basin, situated towards the south-wes ...

. Estimates of the size of the deposits reach 100 billion tonnes of coal. Mineralogy has been in a long running legal dispute with

CITIC Limited CITIC Limited () is a conglomerate headquartered in Hong Kong. Its shares are listed on the Main Board of the Hong Kong Stock Exchange, and it is a constituent of the Hang Seng Index. 58% of its issued shares are owned by the Chinese state-own ...

’s (formerly CITIC Pacific Limited) Australian subsidiary companies that are exploiting the magnetite mine in the Pilbara region of

. 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 The Supreme Court of Western Australia is the highest state court in the Australian State of Western Australia. It has unlimited jurisdiction within the state in civil matters (although it usually only hears matters involving sums of A$750,0 ...

delivered judgement in favour of Mineralogy. The CITIC parties appealed the decision of the trial judge to the Court of Appeal, but lost. The outcome of the proceedings above is that Mineralogy received US$350 million with ongoing royalties of US$ 200 million annually. As at 30 June 2018, Mineralogy had consolidated Net Asset Position reported at a value of AUD $450,959,878 (audited). On 27 September 2018

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

Blue Star Line The Blue Star Line was a British passenger and cargo shipping company formed in 1911, being in operation until 1998. Formation Blue Star Line was formed as an initiative by the Vestey Brothers, a Liverpool-based butchers company, who had f ...

to build

Titanic II ''Titanic II'' is a planned passenger ocean liner intended to be a functional modern-day replica of the ''Olympic''-class . The new ship is planned to have a gross tonnage (GT) of 56,000, while the original ship measured about 46,000 gross ...

Blue Star Line
is a subsidiary company of Mineralogy.

is forecast to set sail in 2022, and to follow the original route of the Titanic. 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.

References

External links

Company Website
{{DEFAULTSORT:Mineralogy (Mining Company) Mining companies of Australia Mining in Queensland Companies based in Queensland Non-renewable resource companies established in 1984

See also

References

External links