Lai See | Clive Palmer in expletive-laden rant at Citic Pacific executive

Australian mining billionaire Clive Palmer is not known for being the most patient of souls. The Australian has published the transcript of a recording of what it describes as an "angry expletive-laden tirade of abuse," by Palmer directed against Citic Pacific executives, together with an audio tape on its website. The voicemail, the newspaper says, was left with a Citic executive in 2010.

Citic Pacific, the state-owned mainland company, has bought the rights to mine iron ore on Palmer's site in Western Australia in return for royalty payments. The project has become a nightmare for Citic with delays and huge cost overruns. The original budget of US$2.5 billion has soared to US$8 billion and could reach US$10 billion. In addition, relations between the two parties have been strained by a number of lawsuits which relate to royalty payments.

In one of the rants, Palmer allegedly says: "We are not changing the royalty rate … Tell your chairman to stick it up his a**e". He continues: "I am chairman of this f***ing company, I don't want to ring up little s***s like you because you won't pay your bloody, your bloody rates or pay your rent. I've had enough of you so just pack up all your f***ing gear and get back to China."

In quieter moments Palmer describes himself as a lifelong friend of China with deep and respectful relationships. On occasion he offers advice to Australians in their business dealings with the mainland. He has called on politicians "to be fair and treat the Chinese people and Chinese government with the dignity they deserve."

Yesterday, Palmer said: "There is no source in these reports … it seems journalism has slipped a bit in Australia and a long way in The Australian."