KAT Exploration Inc (KATX)

[Funaboard]

Looks Like the Olympic Dam is a little Damed up !!!!
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May 10 (Bloomberg) -- BHP Billiton Ltd., the world’s largest mining company, joined Rio Tinto Group in reviewing projects while it investigates the effects of the Australian government’s 40 percent resource profits tax.

BHP Chief Executive Officer Marius Kloppers said expansion plans, including its Olympic Dam project, may be “very difficult” to approve. Kloppers said the new tax, to start in 2012, would stymie investment, spur companies to move offshore and threaten an industry that comprises 9 percent of the economy.

“The uncertainty is in place, it would be very difficult to approve any of those projects,” Kloppers told the Australian Broadcasting Corp.’s Inside Business program yesterday. “We are not going to come out, particularly when it is very uncertain, to make blanket statements about things that affect livelihoods, communities, employees and so on.”

Rio, the third-largest mining company, put some projects on hold because of the tax and Peabody Energy Corp. cited it as a reason today for cutting its offer for Macarthur Coal Ltd. Fortescue Metals Group Ltd., the nation’s third-biggest iron ore exporter, last week joined Anglogold Ashanti Ltd. and Gold Fields Ltd. in opposing the tax.
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This might turn the attention on KATX. !!!!

Very Nice