Clive Palmer.
Clive Palmer.

Clive Palmer under fire from Chinese business partners

BILLIONAIRE mining magnate, resort owner and politician Clive Palmer is under fire from his Chinese business partners who warn his aggression could scare off investment.

CITIC Pacific is in the midst of a toxic legal battle with Mr Palmer over royalty payments relating to an enormous iron ore development in Western Australia - the Sino Iron project.

As part of an ABC Four Corners piece running on Monday night, CITIC president Zhang Jijing tells the program Mr Palmer's behaviour could discourage other Chinese investors.

"As part of due diligence, naturally we would expect prospective Chinese investors in Mr Palmer's other interests to take a close look at our experiences. They can draw their own conclusions," President Jijing said in a statement to the program.

Meanwhile, the public broadcaster has set its fact-checking boffins to examine whether Mr Palmer is indeed a billionaire.

The result? It estimates he is worth $1.13 billion at of June 30 this year.



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