Palmer eyes windfall after court win over Chinese conglomerate

Chinese conglomerate CITIC Limited will have to make Clive Palmer even wealthier to ensure the future of its $US12 billion ($18.2 billion) magnetite operations in Western Australia amid a bitter dispute that a Supreme Court judge has likened to a Shakespearian tragedy.

Mr Palmer, already estimated to be pocketing more than $500 million a year in royalties from CITIC, secured a major victory after a 33-day trial and is now on the verge of another windfall.