Miners prepares for Perth MRRT meeting

Several mining and exploration companies will express concerns about the proposed minerals resource rent tax to the Policy Transition Group at its first meeting in Perth tomorrow.

In a statement, Fortescue Metals Group said it has a long list of unresolved issues it will put to the group.

These concerns include: the taxing point and valuation method; tax treatment of investment until implementation in July 2012; crediting of state and territory royalties; and native title payments and payments to indigenous people.

"Fortescue welcomes the opportunity for the Company to present to the PTG because of the high degree of uncertainty still surrounding what appears to be a fundamentally flawed tax," the statement said.

"Fortescue continues to believe the interests of three large multi-national mining companies were put ahead of the interests of the wider industry in the creation of the proposed MRRT. "

"Fortescue will continue to fight against the distortionary aspects of the MRRT in the interests of its shareholders."