Media Release

Mineralogy Group founder and owner Clive Palmer has rejected a report inThe Australian newspaper that he had failed to deliver on a pledge to donate funds to support indigenous communities in Western Australia.

Mr Palmer said: “On November 5, 2008, Mineralogy Pty Ltd signed the Iron Ore Processing (Mineralogy Pty Ltd) Agreement Amendment Bill 2008, which subsequently passed as an act of parliament in the state of Western Australia.

“Under the agreement, the state of Western Australia acknowledged Mineralogy’s intention to establish as soon as practicable a medical research fund for indigenous communities in the Pilbara after the commencement of shipping operations as part of the Sino Iron Project.

“The fund was established on September 26, 2012, in anticipation of the commencement of iron ore export shipping operations by Sino Iron Pty Ltd.

“To date shipping operations have not commenced, which is outside the control of Mineralogy.”

ENDS