Mining magnate Clive Palmer plans to take his legal fight with the federal government all the way to Switzerland.
The outspoken tycoon owes the Commonwealth more than $13 million after an international tribunal put his “foreign investor” claim over a lucrative iron ore mine in the Pilbara region to bed.
The Hague-based Permanent Court of Arbitration said it had no jurisdiction over the dispute between a national government and one of its citizens.
But Palmer – who owns the Palmer Coolum Resort at Coolum – has vowed to push on.
“The Federal Supreme Court of Switzerland would be the next step in the journey to achieve justice in the matter, hopeful of the final arbiter taking an opposite view to that of the tribunal,” he said in a statement on Sunday.
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The long-running international dispute stems from a Singaporean investment company owned by Mr Palmer that claimed damages totalling almost $US200 billion ($A305 billion) after a mining proposal in the WA Pilbara region was blocked.
The case against the Commonwealth argued breaches of the ASEAN-Australia-New Zealand Free Trade Agreement.
Attorney-General Michelle Rowland said on Saturday the tribunal’s decision deeming Mr Palmer was not a “foreign investor” meant he was not entitled to any benefits under Australia’s free trade and investment agreements.
“Australia should never have had to spend two years and over $13 million defending an investor-state claim brought by an Australian national,” Ms Rowland said.
But her wishes the magnate – whose latest political party, the Trumpet of Patriots, failed to win a single seat in federal parliament – would cease vigorously pursuing lawsuits was short-lived with Sunday’s announcement.
“We remain hopeful that, with this clear ruling from the tribunal, Mr Palmer will withdraw his remaining international claims against Australia,” she said on Saturday.
“The government will continue to take all available steps to defend these claims.”
The WA government came under scrutiny for legislation introduced to prevent damages being sought in 2020, stemming from a rejection in 2012.
Mr Palmer’s initial claim for almost $30 billion would have bankrupted the state if successful, WA Attorney-General Tony Buti said in a statement on Saturday.
“I trust this decision will finally close the book on this long-running saga,” he said.
Mr Palmer claimed the legislation was “akin to the actions of a banana republic” in a notice of arbitration to the international tribunal after the High Court rejected the challenge.
