Australian mining group Macarthur Coal has urged the new Prime Minister Julia Gillard to water down and take out the revenue from the proposed resources super profit tax .

Several mining stocks were mobilised on Thursday after Ms. Gillard became Prime Minister, in hopes that she may strike out or revise the proposed tax.

The controversial tax, which was heavily promoted by former Prime Minister Kevin Rudd for weeks, was expected to generate $12 billion in its first two years of implementation, and revenue was added in the federal budget's forward estimates.

Macarthur chairman Keith De Lacy said the government should remove the RSPT revenue from the budget to show good faith in the negotiations with the miners.

“It is not possible to negotiate in good faith with a big hairy monster like that looking over your shoulder,” he said on Friday.

“Forward estimates should be the outcome of successful negotiations, not the starting point.”

Ms. Gillard told media yesterday the Government will hold negotiations with the miners over the proposed resources tax.

The proposed resources tax, she said, is included in her top priorities to be tackled in her Government.

The former Prime Minister Kevin Rudd was severely criticised by high-profiled miners for not handling the negotiations well.