 | |
| Type | Private |
|---|---|
| Industry | Mining |
| Founded | 1984 |
| Founder | Clive Palmer |
| Products | Iron ore |
| |
| Total assets |
|
| Total equity | A$450 million (2018 Audited) |
| Owner | Clive Palmer |
| Website | www |
Mineralogy is a mining company owned by Clive Palmer of Queensland, Australia. Mineralogy's mining projects are now producing and generating income.
Mineralogy signed a deal with the Chinese infrastructure company CITIC Pacific to develop a small portion of a large iron ore deposit in the Pilbara region of Western Australia. [1] The agreement involves the development of two magnetite mines and construction of port infrastructure at Cape Preston. According to Palmer the company owns more than 1,000 square kilometres (390 sq mi) of land in the region. [1] Mineralogy was paid US$415 million for the rights to mine the ore. [2] According to Palmer the reserves contain 160 billion tonnes of iron ore. [3]
The company owns thermal coal deposits situated in the Galilee Basin. [4] Estimates of the size of the deposits reach 100 billion tonnes of coal. [5]
Mineralogy has been in a long running legal dispute with CITIC Limited’s (formerly CITIC Pacific Limited) Australian subsidiary companies that are exploiting the magnetite mine in the Pilbara region of Western Australia. In 2013 Mineralogy commenced legal proceedings to resolve a dispute about royalties it claimed to be due to it, which in 2017 the Western Australian Supreme Court delivered judgement in favour of Mineralogy. [6]
The CITIC parties appealed the decision of the trial judge to the Court of Appeal, but lost. [7]
The outcome of the proceedings above is that Mineralogy received US$350 million with ongoing royalties of US$ 200 million annually. [8] As at 30 June 2018, Mineralogy had consolidated Net Asset Position reported at a value of AUD $450,959,878 (audited). [9]
On 27 September 2018, Clive Palmer also confirmed that as a result of the wins in the Western Australian Courts and the subsequent payments of royalties to Mineralogy, work has re-commenced by Blue Star Line to build Titanic II. [10] Blue Star Line is a subsidiary company of Mineralogy.
Titanic II is forecast to set sail in 2022, and to follow the original route of the Titanic. [11]
Mineralogy took Western Australia to the High Court over the Iron Ore Processing (Mineralogy Pty Ltd) Agreement Amendment Act 2022 in Mineralogy v Western Australia , but lost. [12]
In 2022, Mineralogy donated $116 million dollars to the United Australia Party, which won a single seat in the upper house in the 2022 federal election. [13] [14]
Pilbara Iron is a wholly owned subsidiary of the multinational Rio Tinto Group, that manages assets for Hamersley Iron Pty Ltd, a wholly owned subsidiary of Rio Tinto, and Robe River Iron Associates, an unincorporated joint venture between Rio and three Japanese steel companies Mitsui Iron Ore Development P/L (33%), Nippon Steel Australia P/L (10.5%) and Sumitomo Metal Australia P/L (3.5%).
Ilmenite is a titanium-iron oxide mineral with the idealized formula FeTiO
3. It is a weakly magnetic black or steel-gray solid. Ilmenite is the most important ore of titanium and the main source of titanium dioxide, which is used in paints, printing inks, fabrics, plastics, paper, sunscreen, food and cosmetics.
Fortescue is a global green energy company headquartered in Australia. Fortescue was originally focused on iron ore mining under the name of Fortescue Metals Group until July 2023. As of 2017, Fortescue is the fourth-largest iron ore producer in the world. The company has holdings of more than 87,000 km2 in the Pilbara region of Western Australia, making it the largest tenement holder in the state, larger than both BHP and Rio Tinto.
Hancock Prospecting Pty Ltd is a leading Australian owned mining and agricultural business run by Executive Chairman Gina Rinehart and CEO Garry Korte. At stages of its trading, the company has been known as Hancock Prospecting Ltd, Hancock Resources Ltd, Hanwright Pty Ltd, Hancock & Wright Ltd, and Hancock Prospecting Pty Ltd.
The Nammuldi mine is an iron ore mine located in the Pilbara region of Western Australia, 60 kilometres north-west of Tom Price.
The Mount Tom Price mine is an iron ore mine located in the Pilbara region of Western Australia, near the town of Tom Price.
The Marandoo mine is an iron ore mine located in the Pilbara region of Western Australia, 45 kilometres east of Tom Price.
The Mesa A mine, sometimes also referred to as Waramboo mine, is an iron ore mine located in the Pilbara region of Western Australia, 50 km (31 mi) west of Pannawonica.
The Mesa J mine is an iron ore mine located in the Pilbara region of Western Australia, 16 kilometres south-west of Pannawonica.
The Paraburdoo mine is an iron ore mine located in the Pilbara region of Western Australia, near Paraburdoo.
The West Angelas mine is an iron ore mine located in the Pilbara region of Western Australia, 110 kilometres North West of Newman.
The Hope Downs mine is an iron ore mining complex located in the Pilbara region of Western Australia. It comprises four large open-pit mines. The mines are co-owned by the Hancock Group and Rio Tinto, and the complex was named after Hope Hancock.
Iron ore mining in Western Australia, in the 2018–19 financial year, accounted for 54 percent of the total value of the state's resource production, with a value of A$78.2 billion. The overall value of the minerals and petroleum industry in Western Australia was A$145 billion in 2018–19, a 26 percent increase on the previous financial year.
The Jimblebar mine is an iron ore mine located in the Pilbara region of Western Australia, 41 kilometres east of Newman.
The Roy Hill mine is an iron ore mine in the Chichester Range in the Pilbara region of Western Australia, located 115 kilometres (71 mi) north of Newman and 277 kilometres (172 mi) south of Port Hedland. With indicated and inferred reserves of more than 2.4 billion tonnes, it is expected to become one of the largest mining projects in Australia. Mining operations will produce 55 million tonnes of iron ore per annum with an operating life of more than 20 years.
The Balmoral South mine was a proposed large iron ore located in the Pilbara region of Western Australia. Balmoral South represents one of the largest iron ore reserves in Australia and the world, having estimated reserves of 859 million tonnes of ore grading 22.6% MagFe and 31.2% Fe. It is currently owned by Clive Palmer's company Mineralogy.
The Iron Valley mine is a small iron ore mine located in the Pilbara region of Western Australia, 75 kilometres (47 mi) northwest of Newman, 270 kilometres (170 mi) south of Port Hedland, and 10 kilometres (6.2 mi) east of the Yandicoogina mine.
The Mt Webber mine is an iron ore mine operated by Atlas Iron and located in the Pilbara region of Western Australia, 230 kilometres (140 mi) from Port Hedland, to where the ore is transported. Mt Webber, opened in 2014, is the company's primary operation.
The Roy Hill railway, officially the Roy Hill Infrastructure railway, owned and operated by Hancock Prospecting, is a private rail network in the Pilbara region of Western Australia built to carry iron ore.
Mineralogy v Western Australia was a case heard by the High Court of Australia at the same time as Palmer v Western Australia in 2020 and 2021, which held that the Iron Ore Processing Agreement Amendment Act 2020 was not invalid or inoperative in its entirety.
