Australian Greens Leader Bob Brown says he will continue to press the federal government to include gold and other minerals in its proposed mining tax.
Senator Brown, who is currently sitting in on the Senate inquiry into the minerals resource rent tax (MRRT), also told reporters in Canberra that it was "daft" to be refunding royalties to mining companies under the proposal.
He said Treasurer Wayne Swan needed to reconsider extending the mining tax to gold, uranium and other minerals, although he added he would not block the MRRT legislation.
"The nexus with royalties should also be dropped - it's daft. States have the right to set their own levels of royalties but the open cheque book approach to refunding companies being taken by the federal treasurer is nonsensical," Senator Brown said.
He said adding gold to the MRRT coverage would add $840 million to revenue over the forward estimates and $1.8 billion over the next 10 years.
"Australia has the means to adequately fund education, health, transport," he said.
"It should not have a watered-down mining tax pass into law that fails to collect potential funding sourced from resources that belong to the nation."
He said in 2010, four of Australia's biggest gold mining companies were 100 per cent foreign owned and, overall, the industry was 81 per cent foreign owned.
The 30 per cent MRRT on the coal and iron ore profits of big miners has already been passed by the House of Representatives and is awaiting the approval of the Senate.
