Spotlight on Mineralogy and Resourcehouse Director Clive...

Spotlight on Mineralogy and Resourcehouse Director Clive Palmer
Mineralogy founder Clive Palmer has the portfolio to prove a Resourcehouse IPO on the Hong Kong Stock Exchange will be a success
BY: m.mcnamara | Tue Feb 1, 2011
TAGS: Australian Labor Party, Clive Palmer, Coalition, Hong Kong Stock Exchange, Mineralogy, mining tax, Queensland Nickel, Resourcehouse, thermal coal production

Clive Palmer


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Known for his generosity and business savvy, Queensland billionaire Clive Palmer is currently making headlines for a potential go at a $3 billion IPO on the Hong Kong Stock Exchange for his mining company, Resourcehouse.

All evidence points to an IPO?despite a thwarted attempt at going public in 2010, Resourcehouse recently opened a Hong Kong office and released a report stating it has all intentions of producing magnetite iron ore from the Pilbara and thermal coal the Bowen Basin in Queensland by 2014, according to the Australian.

Palmer?s no stranger to securing lucrative transactions for his mining companies. As the founder and chairman of Mineralogy, he?s overseen transactions with the Chinese Government-owned CITIC Pacific Limited, Australasian Resources and Fortescue Metals. Mineralogy holds one of the world?s major iron ore deposits estimated to be over 160 billion tonnes in the Pilbara region of Western Australia.

Palmer is also a Director of 28 other companies and a leader in the Australian community with business affiliations throughout the world. He?s chairman of the board for Gladstone Pacific Nickel and Queensland Nickel, where he gifted his employees with Mercedes and vacations in 2010.

Palmer also made headlines this week for Mineralogy?s $1 million donation to the Coalition in 2010 to defeat Labor?s controversial proposed resource super-profits tax.

While Forbes pinned Palmer?s net worth at US$600 million in 2010, it is widely believed that he is worth up to A$5 billion. Palmer is married to wife Anna Palmer, and has three children?Anna, Mary and Michael. He is also the owner of the football team Gold Coast United FC.