Clive Palmer says he will pay any outstanding entitlements for workers laid off from his Townsville nickel refinery, three years after they lost their jobs.
The businessman told reporters on Monday he would cover the money still owed to former employees of Queensland Nickel while also maintaining neither he nor his companies sacked anyone.
His nephew, Clive Mensink, made 218 workers redundant just three days before he placed Queensland Nickel into voluntary administration in 2016.
It owed about $300 million in debts when it was shuttered.
The announcement comes as Mr Palmer stages a potential political comeback.
He is waiting to find out if his own United Australia Party will pick him as its candidate for the Townsville seat of Herbert, currently held by Labor incumbent Cathy O'Toole by 37 votes.
Mr Palmer is seeking to restart the refinery, at a time when the price of nickel is rising.
"This is not about politics, this is an announcement about the industry in this town and jobs," he said.
"We think our investment should be welcomed, as an Australian, as Queensland's richest person, and we employ hundreds of people in the state.
About $7.16 million in entitlements is still owed to former workers of Mr Palmer's Yabulu refinery, and it is unclear if he intends to repay the $66.86 million taxpayers stumped up for Queensland Nickel workers.
Liquidators have been tasked with recouping those funds along with money owed to creditors.
Special Purpose Liquidator Stephen Parbery welcomed the announcement, but said he was disappointed it took Mr Palmer so long.
"Litigation continues in the Supreme Court of Queensland against Mr Palmer and a number of individuals and related entities to recover $200 million in claims against Queensland Nickel," he said.
A trial to hear those claims has been set down for July 15 and is expected to run for 45 days.
The Australian Manufacturing Workers Union, which represented workers who lost their jobs, says it does not trust Mr Palmer's claims.
"We are extremely sceptical on the timing of this announcement by Mr Palmer, on the eve of an election while he is launching his own political campaign," the union's Queensland secretary Rohan Webb said.
"It appears Mr Palmer is more concerned about getting himself a job in Parliament, than restoring the jobs of the 600 Townsville workers who lost their jobs when the refinery closed."
The managing director of Mr Palmer's QNI Resources company, Nui Harris, issued a statement as he addressed media in Townsville to call on the state government to approve plans to get the refinery back up and running.
He urged Premier Annastacia Palaszczuk's government to expedite port, rail and plant infrastructure proposals.
