Palmer’s Mineralogy to terminate Citic Pacific’s mining right

Mining magnate Clive Palmer’s Mineralogy on Friday announced that it had served a termination notice to China’s Citic Pacific, giving that company a 21-day notice terminating the mining rights over the Sino iron-ore project, in Western Australia. Mineralogy said that the termination notice to its Chinese partner was issued after the Hong Kong government started legal proceedings against former Citic Pacific chairperson and five former directors, on governance and market disclosure concerns.