Billionaire Clive Palmer plans to sue commonwealth for damages over iron ore project

Clive Palmer plans to sue the Commonwealth for billions of dollars in damages over an iron ore project in WA, with taxpayers to foot the bill if he’s successful.

Mining magnate Clive Palmer is planning to sue the commonwealth for billions of dollars in damages over a stalled iron ore mine in Western Australia’s Pilbara region.

Mr Palmer, who was unsuccessful in suing WA for $32bn over the Balmoral South project, has sent a notice of intent to the federal government proposing international arbitration.

His Singapore-based company Zeph Investments plans to bring a claim under an international free trade agreement.

It is not known how much money the Queensland businessman will be seeking, but it is expected to be more than $32bn.

Federal Attorney-General Mark Dreyfus said in a statement that the government was informed about the compensation claim on October 20 and planned to “vigorously” fight it.

The federal government will ‘vigorously defend’ Clive Palmer’s compensation claim. Picture: Supplied

“Mr Palmer likes to use expensive lawsuits to get his own way,” Mr Dreyfus said.

“At the height of the pandemic, with the support of the former Liberal government, he tried to tear down public health measures that were keeping West Australians safe.

“It’s not enough for Mr Palmer to try to attack elected governments in Australian courts, now he wants to ask an international tribunal for an undeserved compensation payout from Australian taxpayers for laws passed by the WA parliament.

“Enough taxpayer money has been wasted by Mr Palmer’s selfish litigation. If Mr Palmer does bring the international lawsuit he’s threatened, this Australian government will vigorously defend it.”

Mr Palmer has 90 days to lodge the claim.

When contacted by NCA NewsWire, Mr Palmer declined to comment.

Originally published as Billionaire Clive Palmer plans to sue commonwealth for damages over iron ore project