A proposed redevelopment of Great Keppel Island, also known as Woppa, by Gina Rinehart's company Hancock Prospecting is one step closer to going ahead.
The once iconic resort off the central coast of Queensland has had many false starts from various companies trying to bring it back to life after it closed in 2008.
At the end of October last year, Hancock Prospecting became the latest company to announce it had plans to redevelop the resort on the Island, and that it had begun the process of transferring the lease.
At the time the government had not received any information about the sale.
But on Friday, Queensland's Department of Resources confirmed it had received applications from GKI Resort Pty Ltd (Tower Holdings) — the company that currently owns the resort's lease — to transfer it to GKI Investments Pty Ltd (Hancock Prospecting).
However, in a statement the Department said there were several more steps to undertake before the lease transfer could be finalised.
"An independent financial and managerial capability assessment of the incoming purchaser is required as part of the transfer of the leases," it said.
"The Queensland Government is committed to the responsible development of our island resorts for the jobs and business opportunities this creates in regional Queensland.
"[It] has committed $30 million for common-user infrastructure on Great Keppel Island to help support tourism."
In a statement, Hancock Prospecting said that the transaction was subject to conditions being satisfied.
"Including suitable Commonwealth, state and local government approvals being provided that allow viable redevelopment of the island," it said.
"Hancock Prospecting's work on these approvals is ongoing and Tower Holdings application to transfer the leases is part of Hancock Prospecting's due diligence process."
Tower Holdings was contacted for comment by the ABC.
The application comes after the Woppaburra people were formally recognised as native title holders for the Keppel Islands in December.
