Australian mining magnate Clive Palmer has been ordered to pay more than $13 million after his claim of being a “foreign investor” was dismissed by an international tribunal following a dispute lasting more than a decade.
The intergovernmental Permanent Court of Arbitration rejected Palmer’s claim as it had no jurisdiction over the dispute between a national government and one of its citizens, Attorney-General Michelle Rowland said on Saturday.
“Palmer is not a ‘foreign investor’ and is not entitled to any benefits under Australia ’s free trade and investment agreements,” she said.
The government hoped the tribunal’s ruling prompted Palmer to withdraw other international claims made against the commonwealth but will continue defending them.
“Australia should never have had to spe