Mineralogy (mining company)
Encyclopedia
Mineralogy is a mining company owned by Clive Palmer
of Queensland
, Australia
.
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
. 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 1000 km² of land in the region. Mineralogy was paid $US415 million for the rights to mine the ore.
Clive Palmer (businessman)
Clive Palmer is a businessman from Queensland, Australia. he is Australia's fifth richest man and the wealthiest in Queensland. BRW estimated his worth at around A$3 billion, with others putting it at $6 billion.- Private life :...
of Queensland
Queensland
Queensland is a state of Australia, occupying the north-eastern section of the mainland continent. It is bordered by the Northern Territory, South Australia and New South Wales to the west, south-west and south respectively. To the east, Queensland is bordered by the Coral Sea and Pacific Ocean...
, Australia
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
.
Mineralogy signed a deal with the Chinese infrastructure company CITIC Pacific
CITIC Pacific
CITIC Pacific is a Hong Kong-based conglomerate holding company headquartered in the CITIC Tower, Admiralty, Hong Kong. It is 58% owned by the state-owned Citic Group in Beijing and has shareholders around the world.-Business areas:...
to develop a small portion of a large iron ore deposit in the Pilbara region of Western Australia
Western Australia
Western Australia is a state of Australia, occupying the entire western third of the Australian continent. It is bounded by the Indian Ocean to the north and west, the Great Australian Bight and Indian Ocean to the south, the Northern Territory to the north-east and South Australia to the south-east...
. The agreement involves the development of two magnetite
Magnetite
Magnetite is a ferrimagnetic mineral with chemical formula Fe3O4, one of several iron oxides and a member of the spinel group. The chemical IUPAC name is iron oxide and the common chemical name is ferrous-ferric oxide. The formula for magnetite may also be written as FeO·Fe2O3, which is one part...
mines and construction of port infrastructure at Cape Preston
Cape Preston
Cape Preston is a rocky headland located in the Pilbara region of Western Australia and is situated West South West from Karratha.Cape Preston is a standard Bureau of Meteorology reference point for coastal weather reports, it is located between Wallal and North West Cape.The area is noted for its...
. According to Palmer the company owns more than 1000 km² of land in the region. Mineralogy was paid $US415 million for the rights to mine the ore.