Mr Katter said Copper Resources Australia owned by Hong Kong-based Dragon Field International Limited poised to acquire what remains of CuDeco, including the Rocklands Copper Mine near Cloncurry, has submitted a bid of $30 million which is less than half of what has been offered by a rival Australian investor.

Mr Katter wants the Federal and Queensland Governments to put pressure on the Foreign Investment Review Board to freeze the sale pending a detailed investigation and there have been ongoing concerns about coercion by foreign parties throughout the sale, though these claims have been rejected by involved receivers.

"The operators of the former CuDeco treated their workers and suppliers shamefully and I will not stand by and watch the same thing happen again," Mr Katter said.

"There are reports that CuDeco's assets are going to be sold to what is essentially a Chinese bidder at a $30million discount to other offers and I want FIRB to step in now, freeze this deal and have a much better look at what is really going on here."

He said there was an onus on the Premier to act in Queensland's interest and raise the issue immediately with the Federal Treasurer.

CuDeco collapsed in July last year with debts (including to unpaid workers, contractors and suppliers), of around $190 million while shareholders lost almost $600 million.

Mr Katter said many people in North West Queensland were still reeling from the collapse.

His Traeger electorate takes in CuDeco's Rocklands copper mine. The mine also boasts cobalt and the high-grade rare elements of uranium and molybdenum.