The controversy regarding the proposed super profit tax by the federal government still looms as mining businessman and a major financial backer of the Liberal National Party in Queensland Clive Palmer revealed that he postponed two big projects, one of which would have generated 3000 jobs.

The Queensland billionaire has been critical about the proposal to tax mining proifts by 40 per cent because it brings instability to the industry.

One of Mr. Palmer's planned mining exploration in South Australia was put on hold while another billion-dollar iron ore project in the west was also shelved.

Mr. Palmer explained that one of its projects would have helped generate 3000 jobs and bring in $2 billion a year in exports.

Through an interview with ABC Television on Thursday, he said there were still pending projects to announce to the public.

“There are projects that we haven't announced that we've been planning that we have to stall on,” he said.

Mr. Palmer was also accused by the federal government of declaring projects that don't exist. He was obliged to admit his $6.5 billion mine project in Galilee Basin, however, it will not push through due to the proposed tax.

He remarked that he would agree on a tax on rich like himself, rather put a tax on the industry that would create a negative impact in the country.

Mr. Palmer added the super profit tax already received negative views by overseas investors and may shift its investments to South Africa and South America.