The new chief executive of mining giant BHP has said the company’s whopping $9 billion annual tax bill is fair enough.

CEO Andrew Mackenzie made the call at his first public address since taking the top job, speaking to a business lunch in Melbourne this week.

Mackenzie said: “Tax is one of many issues we need to work through with whoever wins the next election... We pay $9 billion at a 45 per cent tax rate - I think that's a fair rate.”

He refused to be drawn by reporters on related topics such as the continuation of the MRRT or plans to cut corporate tax.

He did however warn about legislation that can harm productivity, but declined to elaborate, also saying that politicians needed to ensure measures to reduce carbon actually do so, and do not simply export the problem.

Talking eventually on his current field of employment, Mr Mackenzie said that while Australia’s mining and resources industries would continue for quite some time, there will come a time when global competition must be faced: “Government's role is to provide efficient regulatory systems, foreign, fiscal and trade policies that encourage stability, and open markets,” the CEO of BHP said.