Mr. Clive Palmer, who owns one of the largest deposits of iron ore in the world, has moved away from his former claim to scrap the mining projects because of the Federal Government's proposed resource super profits tax. He is a fierce opponent of the new 40% tax on mining profits.

The debate at the National Press Club that put into opposite teams Paul Howes and Clive Palmer over the RSPT, did not perform that well.

The debate witnessed absence of some expected mining executives as the miners were out for 'Minerals Week'.

The supporters, who were anticipated as the strongest backing for the opposition of RSPT, were found to be missing from the event.

The anticipated coal deal with China involving $60 billion was almost confirmed by the billionaire businessman Clive Palmer. Ruling out the confusion that entered with China's statement indicating just a reach up to frame work agreement, the businessman announced the deal at the weekend.