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Mining magnate Clive Palmer is intensifying his legal battle against the Australian government by taking his case to Switzerland’s supreme court. This move follows an international tribunal’s decision to dismiss his claim as a foreign investor and demands he pay $13.6 million.
Palmer is contesting legislation swiftly enacted in Western Australia to prevent him from seeking approximately $30 billion in damages in 2020. This was related to the state’s refusal of his Balmoral South iron ore project proposition in Pilbara, a financial hit that authorities stated could have led to the state’s insolvency.
Following a failed attempt in the High Court, a Singapore-based investment firm under Palmer’s ownership brought the issue to the Permanent Court of Arbitration, an international body.
The case argued breaches against the Asean-Australian-New Zealand free trade agreement.
Foreign investors have the right to claim compensation for law or policy changes that reduce future profits in an international tribunal.
Palmer is an Australian citizen.
He is also the fifth richest in the country with a net wealth of $20.12 billion, according to the Australian Financial Review.
Attorney-General Michelle Rowland announced that the tribunal unanimously dismissed the case, citing a lack of jurisdiction, and ordered Palmer to cover the Commonwealth’s legal expenses of $13.6 million.
“Mr. Palmer is not a ‘foreign investor’ and thus not eligible for advantages under Australia’s free trade and investment agreements,” she declared in a statement.
“I am pleased that the Tribunal has accepted Australia’s arguments and rejected Mr Palmer’s claim.
“Australia should never have had to spend two years and over $13 million defending an investor-state claim brought by an Australian national.”
Rowland expressed a desire for Palmer to drop his remaining three international lawsuits against Australia, while Premier Roger Cook expressed hope that this decision would “finally conclude this prolonged saga.”
But a day later, the billionaire launched a new case in Switzerland. 
Palmer has announced that he will be challenging the international tribunal’s decision in Switzerland’s Federal Supreme Court. 
He said this was the “next step in the journey to achieve justice in the matter, hopeful of the final arbiter taking an opposite view to that of the tribunal”.
