CITIC slashes WA iron ore volumes after feud with Clive Palmer

Chinese conglomerate CITIC is slashing production at its $US12 billion ($18.2 billion) magnetite operations in Western Australia in an escalation of a war with Clive Palmer, Australia’s fifth-richest person.

CITIC said it had run out of room at its Sino Iron operations on the Pilbara coast where it has operated for a decade, representing the biggest Chinese investment on Australian soil.