Mineralogy is an Australian mining company owned by Clive Palmer. The company is involved in mining exploration and development, principally iron ore, in Western Australia. Mineralogy had assets of A$594 million in 2018. It entered a US$415 million arrangement with the Chinese company CITIC in 2006. Mineralogy and CITIC have been in legal disputes over royalties and other matters since 2013.
History
Mineralogy was founded in 1984 by Clive Palmer, who had become wealthy through property development in the Gold Coast. In 1985, the company acquired exploration leases for magnetite tenements in Cape Preston, Pilbara, from the U.S. iron ore processor M. A. Hanna Company. Palmer transferred the tenement's soon-to-expire exploration rights to his Queensland property company, GSS Homes.[1]
In 2006, it 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.[2]