Andrew Darby; 23/5/08
ANZ Bank appears to have decided against funding Gunns’ $2 billion pulp mill in northern Tasmania, dealing a blow to the controversial project. Industry and anti-mill sources yesterday confirmed a report that ANZ, which has agonised over the Tamar Valley mill, has rejected a role as financier. Such a decision could further delay a start to construction, but Gunns is not believed to have been deterred from its goal of building a “world-scale” mill. An ANZ spokeswoman refused to confirm or deny the decision. The bank may be waiting for Gunns, its long-time corporate banking client, to make an announcement.
Tags: Australia, Environment