Attorney general says mining magnate is ‘not a foreign investor’ and is ‘not entitled to any benefits under Australia’s free trade and investment agreements’

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The Australian mining magnate Clive Palmer has been ordered to pay more than $13m after his claim of being a “foreign investor” was dismissed by an international tribunal after a dispute lasting more than a decade.

The permanent court of arbitration, established by international treaties, rejected Palmer’s claim as it had no jurisdiction over the dispute between a national government and one of its citizens, the attorney general, Michelle Rowland, said on Saturday.

Source: Guardian - World News