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BRISBANE, Nov 13 AAP

November 13 2012, 12:31AM

Billionaire mining magnate Clive Palmer says he'll continue to support the Liberal National Party financially and morally, despite being suspended.

Mr Palmer, a life member of the LNP, was suspended late on Friday after he launched a tirade against Queensland Treasurer Tim Nicholls and deputy premier and state development minister Jeff Seeney, and called for them to step down.

In statement issued ahead of his press conference on Tuesday, Mr Palmer made no mention of his threat to take legal action against the LNP over his suspension.

Instead, he attacked Premier Campbell Newman, Deputy Premier Jeff Seeney and Mr Nicholls.

"Despite the activities of Campbell Newman, Jeff Seeney and Tim Nicholls, the LNP and its policies remain the best hope for Queensland," Mr Palmer's statement says.

"We shouldn't blame the organisation for the sins of these three individuals who have acted dishonestly and against the interests of all Queenslanders."

He said he would continue to support the LNP "financially and morally" as the organisation "struggles to free itself from the activities of these three individuals".

On Monday, Mr Palmer told AAP his lawyers will write to the party's executive to push for his suspension to be withdrawn, claiming he's been denied a fair hearing.