Paladin boss hints at project delays over resource tax

The West.com.au reports John Borshoff, Paladin Energy chief has suggested the proposed resource super profits tax could have further project delays.

Mr Borshoff said the tax provided “fundamental uncertainty” for the Australian resources sector, which he said the Federal Government had clearly not foreseen.

Paladin Energy’s CEO, Mr Borshoff says:

“We are reviewing the likely impact on our Australian projects, which are not mooted for development decisions until the year 2013-14.” “This timeframe gives us ample opportunity to also seek other offshore opportunities and . . . (make) development decisions on which of the projects to choose (to develop) after the Langer Heinrich expansion is completed. “This will be dependent on which new project will give shareholders the best return”.”The Australian projects may or may not be delayed depending on what fiscal regime presides at the time.”

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