West Australia's mining lobby is continuously pressuring the Federal Treasury officials to revise the resources super profits tax as it will damage the industry.

The Federal Government said that it is fundamentally committed to the tax, however, it is willing to negotiate on some aspects with several mining leaders in the industry.

Reg Howard-Smith, spokesperson of the Chamber of Minerals and Energy, said the government will not agree to slash off the 40 per cent rate on profits above a 6 per cent threshold and retrospectivity.

He and his colleagues have raised their concerns to the Treasurer officials during a briefing in Canberra.

“Companies that are out raising capital right at this point in time, particularly international capital, its either more expensive, its harder to get or its a combination of those,” Mr. Howard-Smith argued.

“That's an immediate effect even though this tax doesn't come in for two years, if in fact it does.”

He added the uncertainty of the tax is damaging and it might push investors away.

“That's why we and companies in the industry are very much taking this into the public arena because that's where the government is having the debate unfortunately

“Issues like retrospectivity, access to funds and the rate of tax, which are not part of the consultation, are clearly the critical issues.”

On the other hand, Rod Eddington, chief advisor for major building projects, stressed that the Government and the mining industry must undergo a proper negotiation process. He adds that an absencen of consultation will lead to “serious divisions in the country.”

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