Mining industry groups have launched a new campaign ahead of the mining tax to stop its expansion.
The Minerals Council of Australia (MCA) has today taken out full page ads in newspapers warning that the mining industry is "not a bottomless pit".
According to the ad "Australian mining already pays 500% more taxes and royalties than 10 years ago and will soon have to pay the new mining and carbon taxes as well.
"Now there are calls for even more new taxes."
While the ad acknowledges the need for the industry to "pay fair and equitable royalties and taxes," it warns that "there is a point where the rush to increase taxes, royalties and charges risks making Australian mining weaker, less competitive and less able to make the important contribution everyone wants for the long term".
The MCA adds that "the first signs of this are emerging".
It comes as the Greens have called for the slashing of the Diesel Fuel Rebate Scheme.
MCA head Mitch Hooke has said increased taxes will discourage investment, pointing to an Australian Government report which found "some evidence of a trend towards exploration in other countries, at the expense of Australia".
Hooke stated that "it’s not in anyone’s interest to weight down your frontrunners".
The mining industry previously carried out an ad campaign to derail both the mining and carbon taxes last year.
Miners called off the campaign after the newly elected Gillard government agreed to meet with the industry in Canberra to discuss the tax.