Mining Credit Crunch Delays New Projects

Source:

The deepening global financial crisis has tightened bank lending to some smaller mining firms, jeopardising, or at least delaying, projects that may be needed to satisfy demand for metals in the next few years.

The deepening global financial crisis has tightened bank lending to some smaller mining firms, jeopardising, or at least delaying, projects that may be needed to satisfy demand for metals in the next few years.

Banks are still reeling from the credit crunch, which saw many suffer heavy losses, and most are less willing to make loans to what might be considered riskier projects...

"Lending has already become more restricted and will be even more restricted as the weeks go by," said Ashok Shah, chief investment officer at London & Capital.

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