The country is benefiting from rebounding commodity prices in its key exports, such as iron ore and coal, with China and India predicted to continue fueling strong demand in the future.....They [IMF economists] also recommend saving revenue windfalls, which would build a buffer against any sharp fall in commodity prices and permit those automatic stabilizers to operate during downturns. The economists also welcomed the planned introduction of a mineral resource rent tax as “a step in the right direction.” Tax reform could play a key role in allowing Australia to reallocate resources to the mining sector, and to take full advantage of the mining boom. They recommend that the new minerals tax could be broadened to cover other mineral resources beyond iron ore and coal.
Excerpt from the IMF summary on Australia's 2010 Article IV Consultation—Staff Report. The IMF praise for Australia's higher taxation proposals (trailed here) is interesting. No only do they welcome it, but they ask that these taxes are "broadened" to cover other minerals.