Abstract: The Australian Government has announced that a new taxation regime against coal and iron ore mining industry-Mineral Resource Rent Tax (MRRT) will enter into force on July 1, 2012. This new tax will trigger a series of reactions in the global mining industry as well as in its downstream chains. Media widely predicted that under the unoptimistic market situation, the new law will further uplift the already high prices of iron ore and coking coal, and Chinese steel enterprises will have to suffer more pressures on the cost of raw materials. Media also predicted that the cost for Chinese enterprises who are planning acquisitions of Australia mineral resources will subsequently increase as well. Such predictions, from the vision of an overall tendency, should be correct judgments; but on the scale of specific operations, MRRT provided practical margin to resource companies. With proper operations, legitimate tax deductions, including complete tax avoidance will be achievable. Based on Minerals Resource Rent Tax Bill issued by Australian Treasury on Jun.9,2011, this analysis focuses on the details of the rules in this new tax regime and how to utilize these rules to minimize the impact of this new bill on resource enterprises.