Bishop concerned about Palmer allegations

Foreign Minister Julie Bishop says she's concerned about allegations that a resource company owned by federal MP Clive Palmer siphoned millions of dollars from Chinese investors.

Mr Palmer has strenuously denied accusations that his company Mineralogy siphoned funds from Chinese state-owned enterprise CITIC Pacific to finance the Palmer United Party's federal election campaign.

Mineralogy has been locked in a bitter legal dispute with CITIC Pacific over rights to mine iron ore in Western Australia's Pilbara region.

Ms Bishop on Monday said she didn't want to weigh in on the issue while it was before the courts, but as foreign minister she was concerned.

"These are worrying allegations," she told Sky News.

"Anything that affects our relationship with China is of concern to me as foreign minister."

Mr Palmer claims CITIC Pacific actually owes Mineralogy more than $A320 million, as they've been shipping resources to China without paying for them.