An international tribunal has today unanimously rejected a claim by Clive Palmer against Australia. The Tribunal agreed with Australia's position that it has no jurisdiction over the dispute.
The Tribunal's decision follows Mr Palmer's unsuccessful challenge in the High Court of Australia to the validity of Western Australian legislation regarding his proposed Balmoral South Iron Ore Project in the Pilbara.
The claim was brought before the Tribunal by Singaporean company Zeph Investments Pte Ltd, a company ultimately owned by Mr Palmer.
The Tribunal ordered that Mr Palmer's company must pay Australia's costs of AU $13.6 million.
The Permanent Court of Arbitration will publish the Tribunal's decision on its website once any issues regarding confidentiality have been resolved.
Quotes attributable to the Attorney-General, the Hon Michelle Rowland MP:
"The Albanese Government welcomes the Tribunal's decision. We have vigorously defended this claim from the outset. Mr Palmer is not a 'foreign investor' and is not entitled to any benefits under Australia's free trade and investment agreements. I am pleased that the Tribunal has accepted Australia's arguments and rejected Mr Palmer's claim.
"We remain hopeful that, with this clear ruling from the tribunal, Mr Palmer will withdraw his remaining international claims against Australia. The Government will continue to take all available steps to defend these claims.
"Australia should never have had to spend two years and over AU $13 million defending an investor-State claim brought by an Australian national. The Albanese Government remains committed to actively engaging in processes to remove or reform existing investor-State dispute settlement mechanisms."
