Company chairman Neil Hamilton says the federal government's proposed 40 per cent super profits tax raises questions on investment decisions.
"I can say that the board of OZ Minerals has today resolved that it will not be able to conclude its analysis of the Western Copper/underground project, until the detail of the new tax regime is known, understood and factored in to the financial feasibility," Hamilton told the company's annual general meeting in Adelaide on Wednesday.
"Only then we will be able to decide if the project makes economic sense for you our shareholders," he told the meeting.
The underground copper project involves plans by OZ Minerals to mine a new area at its Prominent Hill mine in South Australia.
A feasibility study is under way into taking mining underground at that part of the site, and construction was expected to begin in September if approved by the board.
Hamilton said OZ Minerals was taking part in a government process of consultation regarding the proposed new tax arrangements.
Source: AAP NewsWire
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