Palmer resigns directorship ahead of legal action
FEDERAL MP Clive Palmer has resigned as director of his own company Mineralogy, as it faces a court battle with a Chinese conglomerate.
Mr Palmer's Parliamentary register of interests has been altered to show he resigned his directorship of the company on May 20.
He also resigned his directorship of two companies behind his loss-making nickel refinery.
Mineralogy is in a court dispute over iron ore royalties with Chinese state-owned Citic Pacific Corporation, which operates a $10 billion mine in Western Australia.
The legal stoush is over royalty payments for the Sino Iron project in WA's Pilbara.
Read more at ABC News Online.