Ferguson along with 30 of his fellow members in the Labor caucus voted to install Rudd to the top job of PM on Monday.

However, their attempt to oust Gillard fell well short of the votes required, with Gillard receiving 71 votes to Rudd’s 31 votes.

The resources sector rallied behind Ferguson this week in the lead-up to Gillard’s announcement of changes to the front bench, with Minerals Council of Australia chief executive Mitch Hooke saying Ferguson had a good working relationship with the minerals industry.

“He has a very effective working relationship with the industry that was clearly evidenced in the way he and Don Argus, the former chairman of BHP Billiton, chaired the working group, the policy transition group for working through all the details of the minerals resource rent tax,” Hooke said earlier in the week.

“He was an architect of the group in working through what we had always sought, that was an effective platform for consultation with the industry and working through what we had hoped to be tax reform.

“Now we haven't got tax reform, we've got a top-up tax, but we've taken out a lot of the adversity that was inherent in the super profits tax.

“Minister Ferguson has been a critical bridge in rebuilding confidence between the industry and the government and particularly the first part of that bridge was engagement and listening – and doing that effectively and efficiently.”

Meanwhile, in a surprise move, former NSW premier Bob Carr has been appointed Foreign Affairs Minister.

Earlier in the week, Gillard said she had not been in discussions with Carr over the position which was being eyed by Defence Minister Stephen Smith.

Rudd supporter Robert McClelland was demoted to the back bench