Resources minister steps up extraordinary Westpac attack over Adani coalmine

Matt Canavan accuses bank of conflict of interest over policy to limit lending for coal projects to 'existing coal-producing basins'

Matt Canavan has redoubled his attack on Westpac - accusing the bank of a conflict of interest over financial links to the Newcastle port - as a direct competitor to future coalmines in the Galilee basin.

"This stinks to high heaven," the resources minister told the ABC in response to the bank's new policy to limit lending for new thermal coal projects to "existing coal-producing basins".