Friends of the Tamar Valley released the statement below on January 25.
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Between 40 to 50 people gathered outside the Launceston branch of ANZ on January 25 as part of a coordinated series of rallies urging the bank to provide no further financial support for Tasmanian logging company Gunns Ltd鈥檚 controversial Tamar Valley pulp mill.
Coordinated rallies were also held simultaneously outside ANZ branches in Hobart, Melbourne, and Sydney. Friends of the Tamar Valley understands from several Facebook posts many supporters throughout the country were prompted to stage their own protests outside other ANZ branches.
ANZ is due to make a decision about extending a debt facility to Gunns by January 31. The bank is now on notice that an ongoing nationwide campaign will result, should it continue to facilitate financial support for Gunns.
鈥淚f ANZ refinances Gunns鈥 debt then all ANZ customers deserve to learn how their bank backs this polluting and financially risky pulp mill,鈥 said Anne Layton-Bennett, spokesperson for Friends of the Tamar Valley.
No Pulp Mill Alliance member groups warn they will revive the strong 2008 campaign opposing ANZ鈥檚 funding of the project, and will undertake further actions, petitions and other initiatives if the bank facilitates an extension of Gunns鈥 debts, and prolongs the uncertainty Tasmanians have been forced to live with for the past eight years.
Layton-Bennett said: 鈥淎t the end of June last year, Gunns鈥 debts totalled $628 million, of which $350 million is due to be paid by the end of January. FTV understands that work currently taking place on the proposed pulp mill site is being financed by the ANZ, so despite the official line claiming ANZ won鈥檛 provide finance for the pulp mill, it鈥檚 only thanks to the bank that Gunns is still standing.鈥
With Gunns鈥 share price at its lowest ever, and a recent market capitalisation of less than $100 million, Gunns is in serious financial trouble. By its own admission, Gunns is now wholly reliant on the proposed pulp mill, and there is no Plan B.
In his Annual General Meeting speech in November 2011, the Gunns鈥 Chairperson said the company was in discussion with ANZ to extend its debt to provide 鈥渇inancing terms which facilitate the completion of the asset sale program and financial close of the Bell Bay pulp mill project鈥.