The ANZ Bank has withdrawn the 10 per cent funding that it had planned to contribute to construction of the controversial Gunns pulp mill in Tasmania. Neither Gunns nor ANZ have publicly confirmed the withdrawal of support of the company's banker for the last 22 years, but well placed sources say that it has happened. The news is not likely to derail the planned mill given that ANZ had only been earmarked for 10 per cent of the funding and the final make-up of the consortium had not yet been determined. Environmental groups are claiming victory after hard lobbying of ANZ about its support of the mill.
