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Clive Palmer, Executive Chairman, Mineralogy, Friday 19 March 2010

CEO BOARDROOM

 

Clive Palmer addressed a CEO boardroom event for 20 senior business executives  where he discussed the resources sector, China and much more.  This CEO boardroom event was generously hosted by NAB and Gilbert + Tobin.

 

Clive Palmer is a self made Australian billionaire, perhaps Australia’s richest person, and owns through his private company, Mineralogy Pty Ltd, one of the world’s largest magnetite iron ore deposit (160 billion tonnes) located at Cape Preston in Western Australia, an employer of over 6,000 people, and one of Australia’s largest exporters. A subsidiary, Waratah Coal, is building a $1.25 billion coal-fired power station incorporating carbon capture and storage technologies that will complement Australia’s largest thermal coal mine and infrastructure project in the Galilee Basin in Central Queensland.

 

In 2006 and 2007, Mineralogy completed agreements with CITIC Pacific Limited, a Chinese government controlled company and its subsidiaries, facilitating the mining, processing and export of iron ore products of up to two billion tonnes over the next twenty years.  The CITIC Pacific project involves an investment of around $8 billion in mine processing infrastructure costs and is the largest Chinese investment and financing outside China!

In addition, Clive Palmer is a significant shareholder in the Australian listed company Australasian Resources Limited which is currently planning a further one billion tonnes project to the south east of the iron ore deposit. The company is currently entering into a joint venture with Chinese steel mill, Shougang.

Professor Palmer recently established a US$100 million charity foundation for the specific purpose of medical research and support of Aboriginal communities in Western Australia.  His wide range of interests include owning Gold Coast United, the A-League football team, and he has a keen interest in politics and is featured as being a force between the merger of the Liberal and National parties in Queensland.

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