Is mining industry ready to work with Kevin Rudd again?

AFTER spending more than $22 million three years ago and helping to topple then-Prime Minister Kevin Rudd, will the returned prime minister and the mining industry be able to bury the hatchet?

The Minerals Council of Australia ran a sprawling campaign against the Federal Government's looming mining tax, then named the Resource Super Profits Tax, in May and June of 2010.

The "Keep Mining Strong" campaign was everywhere until Julia Gillard took the mantle of prime minister and began negotiations afresh with the most powerful players.

A compromised version of the RSPT, now named the Minerals Resource Rent Tax, came out the other side.

After the dramatic leadership change on Thursday night, it appeared both Prime Minister Rudd and the industry were prepared to let bygones be bygones.

In his acceptance speech, Prime Minister Rudd told Australian business, "I want to work closely with you".

"Business is a group that this government will work with very closely," he said.

"We've been natural partners in the past and we can be again in the future."

For the Minerals Council, chief executive Mitch Hooke said he was keen to see what came out of the new look government

"The minerals industry is looking forward to a policy debate in the weeks and months ahead now that the political environment has been settled," Mr Hooke said.

"Our focus has always been on policies not politics."