A Supreme Court judge has blasted mining mogul Clive Palmer and his private company Mineralogy for "abuse of process" in throwing out a legal action aimed at clawing about $US200 million ($297 million) from Chinese conglomerate CITIC.

However, it was a bittersweet victory for CITIC with the High Court on Friday throwing out its application to challenge a separate ruling from 2017 which now sees Mineralogy earn hundreds of millions of dollars a year in royalty payments.