A report in The Australian today says Palmer may look at proceeding with the float as early as March, after the Chinese New Year holidays.
Palmer was set to float his company in early 2010, but was forced to pull the IPO after breaching Hong Kong's strict rules about promoting floats before they had been announced.
The float rumours coincide with the release of Resourcehouse's annual report for 2010, outlining its activities over the last 12 months and unveiling a high-profiled board.
According to the report the directors of the company include rich list member and solar power entrepreneur Zhengrong Shi and former federal foreign minister, Alexander Downer.
The report also says Resourcehouse signed two coal supply contracts with a notional value of a staggering $US82 billion.
The first is a 20-year deal to supply Swiss company Vital SA with 20 million tonnes of thermal coal each year in a deal Resourcehouse claims is worth $US40 billion.
The second is a similar deal with China Power Holdings, to supply the same amount of coal over the same period. Palmer's company says this contract has an estimated value of $US42 billion.
The float of Resourcehouse is expected to raise $3-5 billion, although exactly how much of the company is up for sale – and how much Palmer may retain personally – is unclear.
While Palmer has been valued at almost $4 billion by BRW, valuing resource projects that are still some way from production is difficult. However, the float of Resourcehouse would allow a much greater level of insight into his fortunes.
In other billionaire mining news, bidders are reportedly queuing up to buy a controlling stake in Gina Rinehart's Kevin's Corner coal project, which she is selling to fund her massive $7.5 billion Alpha coal project.
According to the Economic Times of India, Indian energy company GVK Power is among six bidders shortlisted. It has reportedly bid $2 billion.
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