Small miners facing financing roadblocks

Looking for capital to finance a greenfield mining project without a proven track record? Good luck with the big banks.

Major lenders are reluctant to offer project financing to the lesser-known players, as a risk-aversion hangover lingers from the financial crisis - even though base metals prices have rallied recently.

"Bankers have been more picky on project financing," Alberto Migliucci, head of mining, oil and gas, South East Asia at Credit Suisse, told the China Mining conference on Tuesday.