Australian billionaire Clive Palmer in narrow seat win

Clive Palmer is one of Australia's richest men

Australian tycoon Clive Palmer has narrowly won a seat in the Australia's Lower House after a recount.

The billionaire who leads the Palmer United Party beat his opponent from the ruling Liberal National Party by 53 votes.

His party campaigned on reducing the influence of lobbyists and scrapping the carbon tax.

Meanwhile, the Electoral Commission is investigating how ballot papers went missing in a separate Senate recount.

Mining billionaire Mr Palmer is famous for his attempt to build a new version of the Titanic, based on the original designs, as well as a replica dinosaur park in Australia.

"I'm looking forward to making a positive contribution to the battle of ideas in Canberra," Mr Palmer told reporters.

He added that he was dissatisfied with the Electoral Commission's procedures.

"In my case in the seat of Fairfax, the first count I won by 36 votes, the second count I won by seven votes, and now I have won by 53 votes," he said.

"Now we know all those counts are not the same so some of them must be wrong so it does highlight the fact that our electoral system is not right."

The PUP also won two seats in the senate in September's Federal elections, with a possible third pending a recount in Western Australia.

An inquiry into that recount is underway after the Electoral Commission said more than 1,300 ballots had gone missing.

The PUP has formed a minority bloc with the Australian Motoring Enthusiast Party in the Senate, which will be key to passing laws.