“Gunns’ controversial pulp mill project in Tasmania appears dead, one of its biggest supporters, former premier Paul Lennon says. Criticised for his fervent support of the mill, Mr Lennon told a parliamentary inquiry on Tuesday that Tasmania would rue the mill’s demise. “Unfortunately, it appears at the moment that the project may not be alive. Certainly it’s been shelved for a period of time,” Mr Lennon said. Tasmania, in the face of the global economic crisis, would effectively find itself up a creek without a paddle, he said.”

“The Australian forest products company Gunns Ltd is reported to have told the Australian Stock Exchange it is in negotiations to sell part of its forest resource. The ABC reported the Tasmanian-based timber company plan to sell the forest supply was part of a bid to raise capital and shore up its balance sheet.”

“GUNNS’ plans for a $2 billion pulp mill in Tasmania’s Tamar Valley are in doubt, with environmentalists now putting the heat on potential partners and financiers around the world.”