Federal MP Clive Palmer has vowed to continue to pursue a legal battle against the Chinese government-owned mining company, CITIC Pacific.

Yesterday, the Supreme Court dismissed a fraud case brought against Mr Palmer by the company, in which it was alleged the mining magnate had siphoned off more than $12 million from a fund set up to manage a port connected to the Sino Iron project in Western Australia's Pilbara region.

The plaintiffs claimed Mr Palmer committed a breach of trust in 2013 when he drew two cheques payable to his company Cosmo Developments and to Media Circus, which did advertising work for the Palmer United Party in the lead up to the federal election.

But Supreme Court Justice David Jackson ruled in favour of Mr Palmer, saying the money from the port fund was not part of a trust and the claim was dismissed.

"The court found that there was no duty of trust, that the money was ours and that was the end of it," Mr Palmer told 612 ABC Brisbane.

"People mightn't like the fact that I donated money to the Palmer United Party but it's my money. I'll do what I like."

Mr Palmer said the company had been unsuccessful in its attempts to "crush" him.

"They've spent about $45 billion because they thought they could crush me.

"They've spent that money where lawyers in Australia have prostituted themselves, taking the money, making all sorts of allegations which are just simply untrue.

"That's how they operate — like bullies and not give me a chance to defend myself."

He said he would continue to pursue the legal matters in WA, estimating he would sue the company for about $500 million.

"At the moment it exported about $250 million worth of iron ore to China and haven't paid for it," he said.

"It doesn't matter how long it takes, we'll get to the final figure. It's a matter of national integrity of the country," he said.