China's large steel makers, Sinosteel and Anshan Iron and Steel Corp, said they are willing to continue to invest in Australia, despite a 40-percent tax on the Australian mining industry.

"We are reviewing how the tax will impact our companies, and undoubtedly, it will affect costs and profits in our local projects," Tuesday's China Daily quoted Sinosteel president Huang Tianwen as saying.

He said from a long-term perspective the company is still committed to exploring more overseas resources."

Bai Jingpu, vice-president of Anshan Steel, also said the company is evaluating and analyzing the impact of the "super tax" on the Australian mining industry, but the company will continue to invest in the country.

The "super tax" plan was released last week and is expected to start in July 2012. Some Australian mining companies are worried the move will make the nation's mining assets less attractive.

Chinese companies have long wanted to invest in overseas resources to secure raw material supplies and sealed several merger and acquisition deals in Australia last year.

The rising cost of raw materials is also spurring Chinese companies to accelerate the pace of overseas mining acquisitions.

Iron ore imports by China, the largest buyer in the world, grew 11.6 percent in the first four months of 2010 from the previous year, according to data from the Customs office.