In response to recent statements published by Mr Clive Palmer regarding future site remediation at Sino Iron:

CITIC Limited and its subsidiaries continue to comply with all obligations for site remediation under applicable environmental legislation, the State Agreement, the Project Agreements and other instruments related to Sino Iron.

The Site Remediation Fund to which Mr Palmer refers is provided for under a commercial agreement between Mineralogy and CITIC. A dispute has arisen concerning this Fund that is currently before the Supreme Court of Western Australia.

It’s our view that these latest statements from Mr Palmer are a distraction from the key issue affecting this important project – Mineralogy’s refusal to support the Mine Continuation Proposals necessary for life-of-mine operations.


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Media enquiries: Rob Newton Head of Corporate Affairs CITIC Pacific Mining
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