The Australian government passed legislation, which will gather about $11 billion in taxes within the next three years from BHP Billiton Ltd. (BHP), Rio Tinto Group and other iron-ore and coal miners as the government seeks to turn its budget to surplus.

As, the Prime Minister Julia Gillard's Minerals Resource Rent Tax was passed in the upper house yesterday and will be turned into law on July 1 after receiving the approval from the ruling Labor party and the Greens.

The approval on the legislation is considered a success for Gillard. Gillard, the country's first female prime minister, is trying to hold together a minority government that relies on the support of independent and Green party lawmakers.