Clive Palmer has welcomed another court victory over China's biggest conglomerate in their war over the $16 billion Sino Iron project in Western Australia.
The latest legal setback for CITIC Ltd involves a failed attempt to recoup foreign exchange losses on $97.6 million it was ordered to place in a holding account while its legal battle with Mr Palmer's Mineralogy raged in the WA Supreme Court.
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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com
