ANZ's bad loans to miners are just 'tip of the iceberg', analysts say
by Michael Slezak from on (#183X4)
Bank says writedowns have risen $100m to $900m in a month thanks to commodity prices but analysts point to a crisis for coal industry
An announcement today 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
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