Small Australian Mining Firms Being Squeezed Out by Climate-Change Activism
Local Australian resource firms say financial institutions driven by climate change are constricting the industry by withholding vital insurance and loan services crucial for new mining projects.
Leading some companies to warn that global mining conglomerates who can go offshore for financial support will become more entrenched as smaller businesses risk closing. This comes as a parliamentary inquiry examines the impact the financial sector is having on Australian exports.
Chair of the Joint Standing Committee on Trade and Investment, George Christensen, said mineral exports generated billions in revenue for the country, and any impact on the industry needed to be scrutinised.