The two parties are in dispute over how iron ore royalties from the Sino Iron project will be calculated, following the abolition of benchmark pricing.

Mineralogy applied to have the trial over Royalty B, as well as a separate dispute, heard on December 18, which was refused yesterday by Justice James Edelman.

Edelman listed eight reasons why the matters would not be listed for hearing on that date, which included his doubts over whether the matters could be heard in one day and it would be unfair to deprive the defendants of more than nine days to prepare the response.

According to Edelman, the “professed urgency which counsel for Mineralogy asserts is entirely artificial” and the assertions of urgency “ring hollow”

“For a case in which billions of dollars are at stake and where Mineralogy's professed urgency occurs against the background of delays caused by its own conduct in this matter, it borders on the absurd to suggest that the parties should agree trial documents within one working day, prepare affidavit evidence of non-expert witnesses within four working days, prepare responsive evidence within two further working days, prepare submissions based on that evidence within one further working day and responsive submissions within another further working day,” Edelman said.

He criticised the constant “shifts and changes” in Mineralogy’s case.

“Indeed, with the changes to Mineralogy's case there is every likelihood that the case for the CITIC parties will evolve,” he said.

Edelman said a hearing on December 18 would cause prejudice to other matters in his list that had a greater claim to speedy resolution and the application was “wholly premature”

“It is a pity that Mineralogy has brought this application in this way,” Edelman said.

“Mineralogy's application is not redolent of the reasonable and cooperative approach to the efficient resolution of disputes that is expected of the legal representatives of parties in commercial cases.

“This application has delayed the progress of this matter further.”

CITIC welcomed the decision, which comes after the company announced the first magnetite shipments from the Sino Iron project on Monday.

“We are proud to have brought the project into export operation, delivering major benefits to the state and the nation for decades to come,” a CITIC spokesman said.

“This is a long-term project and we're here to stay.

“Mineralogy's approach continues to be obstructive and, we believe, contrary to Australia's national interest.

“We will vigorously defend any applications by Mineralogy.

“We remain confident about the project's ongoing prospects as Australia's newest iron ore exporter.”

Once ramped up, the project will produce 24 million tonnes per annum of iron ore concentrate.