A FRESH bout of ''resource nationalism'' could be imminent, amid speculation that Brazil is poised to follow Australia's lead by imposing a major tax on its mining industry.

Less than two weeks after the Australian government released details of its revised mining tax, a report from Brazil suggests a tax of up to 25 per cent is being considered for that nation's mining industry.

Published in Brazil's biggest-selling newspaper, the report was unconfirmed last night, but it followed more than a year of consultation between the government and miners over reform of the sector.

Projects owned by Brazilian iron ore giant Vale are among those that would be affected by a ''special participation tax'', according to the Folha de Sao Paulo newspaper.

By comparison, Australia's tax would impose an effective tax of 22.5 per cent on iron ore and coal miners that make annual profits above $50 million.