Bank says writedowns acquire risen $100m to $900m in a month thanks to commodity prices but analysts point to a crisis for coal industryAn announcement nowadays that ANZ is absorbing a bigger than expected loss as a result of lending to the mining industry is likely to be the tip of the iceberg as coal and other fossil fuels go into structural decline,according to some financial analysts. Related: Australian coalmines are one of riskiest investments in the world – report Related: The mining investment boom is over, so where to now? Related: Coal giants abandon unprofitable mines, and leaving rehabilitation under threat Continue reading...
Source: theguardian.com