Andrew "Twiggy" Forrest says he has no regrets after losing a High Court challenge to Labor's controversial Minerals Resource Rent Tax (MRRT).
"We're happy that we challenged," the Fortescue Metals Group chairman told reporters at a mining conference.
"We'd have wondered otherwise, and the fact that companies like ours will waste millions of dollars in its administration is to no one's benefit.
"We had excellent special counsel advice, we had a very good chance."
Although Fortescue has not paid any MRRT to date and will now have to pay legal damages, Mr Forrest said the action had not been a waste.
He declined to put a figure on the total cost of the legal action, but conceded it would be substantial.
Mr Forrest also added that the company would not take out advertisements critical of the Labor government during the election campaign.
