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November 09 2012, 10:07AM

Mining magnate Clive Palmer says Queensland's deputy premier is "a thug" with no integrity and must be sacked.

Mr Palmer has spectacularly reignited his war with the Liberal National Party, calling for the heads of Jeff Seeney and Treasurer Tim Nicholls.

His comments end any pretence of a truce in which Mr Palmer, Mr Seeney and Premier Campbell Newman engaged in public slanging matches earlier this year.

The comments also threaten Mr Palmer's life membership of the Liberal National Party, which has been a beneficiary of his enormous wealth over many years.

Mr Palmer has told AAP that Queensland has a deputy premier who lacks honesty, impartiality and respect for the community.

He says Mr Seeney's decision to audit the activities of his company, Waratah Coal, is a "dangerous" act of payback for court action related to a mining rail project.

"It's a very dangerous thing when a minister of the Queensland government - who was subject to court action - directs government officers to intervene in the business affairs of the party taking that action," Mr Palmer told AAP.

"He's doing it to intimidate me, and to threaten me.

"It is contempt of court. He is a thug, he is a bully and he has a long history of being a bully."

Earlier this year, Waratah Coal lost out to rival GVK-Hancock in June to build a rail corridor to link the Bowen and Galilee basins with the Abbot Point coal terminal.

Mr Palmer initiated legal action, saying Mr Seeney had failed to explain the reasons for that decision.

On Friday, Mr Palmer also accused Treasurer Tim Nicholls of lying about the state of the economy.

He said there were grounds for his dismissal too.

Mr Seeney and Mr Nicholls declined to comment to AAP.