RIO Tinto has cautioned other nations that are considering launching a fresh mining tax to learn from the errors committed by the Australian Government.

The mining biggie’s Chief Executive, Tom Albanese, used Australia’s discarded super-profits tax, prompted by ex-Prime Minister Kevin Rudd, as an instance of strategy going in the wrong.

Mr. Albanese, talking at an industry incident in London said, "Policymakers around the world can learn a lesson when considering a new tax to plug a revenue gap, or play to local politics. Such decisions must be made taking in a wide range of views, in a spirit of consultation and engagement".

Rio’s Australian-listed shares surged 1.4% to $68.10 by mid-afternoon today, outshining a 0.6% rise in the standard S&P/ASX 200 index.

Newly selected Prime Minister, Julia Gillard scrapped the resources super-profits tax last week in her first executive role in the top position, and substituted it with a less burdensome minerals resources rent tax.

Mr. Albanese said that the fresh tax eliminated a "great uncertainty" that had delayed projects, but he stayed watchful about Ms. Gillard’s plan.

Talking to more than 500 mining officials in London, Mr. Albanese said that the Government's new plan would still place Australia at the peak of the worldwide taxation scale for commodities like coal and iron ore.