Flinders Mines said that new federal tax on profits could put at risk its proposed iron ore project in the Pilbara region of Western Australia.

Mr Kevin Wills from Flinders Mines said that the tax might undermine the project.

He said “We believe that anything which affects the long term economics of the operation we are going to have to have another close look at all the project's economics. That is the danger that you create a situation where some projects don't get developed.”

(Sourced from ABC News)