Chinese company calls Palmer "obstructive"

A HONG-KONG based company locked in a bitter legal dispute with mining boss turned federal MP Clive Palmer says the case will be closely watched by other Chinese investors.

But Mr Palmer, the member for the Queensland seat of Fairfax, has told ABC's Four Corners program that Australia will continue to attract Chinese investment "because it's best for them".

Mr Palmer's mining company Mineralogy was paid $415 million by a Chinese state-owned enterprise for rights to mine iron ore in Western Australia's Pilbara region.

It's believed to be China's largest ever investment in Australia, but the project has been delayed and has cost the company CITIC Pacific billions.

Mineralogy is in a legal fight with CITIC over future royalties, with Mr Palmer claiming the Chinese firm owes him $700 million.

In a statement obtained by Four Corners, CITIC Pacific president Zhang Jijing said Mr Palmer's "obstructive legal behaviour" is unhelpful and could be delaying a resolution to the legal stoush.

Mr Zhang also said other investors with an eye on Australia would be watching.

"It's our view that Mr Palmer's behaviour and Mineralogy's litigious approach will be closely examined by the wider business community," Mr Jijing said in a statement to the ABC.

"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."

Mr Palmer said Chinese investors weren't in Australia for a "free handout" and "we don't want to be frightened about them".

"They invest because it's best for them, they don't invest for charity," Mr Palmer told Four Corners.

"They're here because it's in their interest."

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