The Government has failed to give any indication of addressing their concerns about the new resources super profits tax, revealed three major mining Companies following a meeting in Canberra, today. As the Prime Minister has been facing pressure from the Opposition to scrap the 40% tax on super profits, the stand-off between the Government and industry is still continuing.

BHP Billiton, Rio Tinto and Xstrata have stated that discussions were held with the Government, today. They stated that the Government gave them no formal acknowledgment that the issues they raised over the rate of the tax and its retrospectivity would be addressed.

Prime Minister, Kevin Rudd insisted that the rate of the tax will remain the same, but he would consider requests by different parts of the industry for the possible transitional arrangements.

However, the details of negotiations have not been outlined by Mr. Rudd but he revealed that they are progressing. He said, “If you were the government engaged in negotiations with industries as large, big, muscly and from time to time as ugly as parts of the mining industry, you'd actually manage those negotiations privately”.

New advertisements have been launched by the Minerals Council of Australia today, as the "next phase" of its campaign against the tax. The Council's, Mitch Hooke poured cold water on the development of discussions.