As Australia’s bankers cast a concerned eye over the nation’s...

As Australia’s bankers cast a concerned eye over the nation’s mortgage market in the face of the Reserve Bank’s ever rising interest rate strategy, there appears to be a turnaround in their feelings about backing the country’s mining industry – and critical minerals in particular.

Australia’s bankers have been singled out over the past year on a perceived lack of funding support for the nation’s world leading critical minerals industry.

Most notably that criticism was levelled by Nolans Rare Earths Project developer, Arafura Rare Earths (ASX: ARU).

The company’s managing director, Gavin Lockyer, is reported as saying that Australian banks were reluctant to provide local critical minerals developments and that the company needed to look overseas for financial institution backing.
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