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Citic Pacific

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China’s Citic fail to pay $400 million in Australian contract; can’t comprehend “rule of law” concept


Up to $400 million in royalty and purchase payments due to Queensland mining magnate Clive Palmer are in dispute and have not been paid, as a rift widens between him and China’s Citic Pacific, the builder of the troubled $US8 billion ($7.8bn) Sino Iron project in Western Australia. Hong Kong-listed Citic has said it is … Continue reading

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