Clive Palmer, a mining investor and the federal member for Fairfax, has stepped down from the board of three of his companies – most recently his flagship venture Mineralogy.
The Australian reported the development, and said the decision would not distance him from any fallout from a legal battle with his Chinese business partner Citic Pacific, which has accused him in court documents of wrongfully spending $12 million.
Palmer also stepped down from the two companies behind his Queensland Nickel refinery in April. His Palmer United Party bloc could hold the balance of power in the Senate after July.
Minerology denies it misused the Citic Pacific money, saying it was withdrawn from an account for “port management” expenses.
There”s more here.
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