Norway sovereign wealth fund drops French miner over environmental fears [Yahoo! Finance]
ERAMET SA UNSP/ADR (ERMAY)
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Source: Yahoo! Finance
Norway's sovereign wealth fund said Friday that it was excluding French mining company Eramet from its portfolio, citing risks that the company was contributing to human rights violations and environmental damage at a nickel mine in Indonesia. Managed by the country's central bank Norges Bank and fuelled by its vast energy revenues, the fund is the world's biggest, with a value of nearly $2 trillion and investments in more than 8,600 companies across the globe. "Norges Bank's Executive Board has decided to exclude the company Eramet SA due to an unacceptable risk that the company contributes to or is itself responsible for serious environmental damage and gross violations of human rights," the fund said in a statement. As of June 30, the fund had a 0.44 percent stake in Eramet, valued at around $6.8 million, according to fund data. The decision was made following a recommendation from the fund's ethics council, which cited "an unacceptable risk that the company is contributin
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News
- Eramet (ENXTPA:ERA): Evaluating Whether Recent Momentum Reflects the Stock's True Value [Yahoo! Finance]Yahoo! Finance
- Purchase of own shares [Yahoo! Finance]Yahoo! Finance
- Indonesian authorities seize lands from miners for lacking forestry permits [Yahoo! Finance]Yahoo! Finance
- Norway Sovereign Wealth Fund Drops French Miner Over Environmental Fears [Barron's]Barrons
- Indonesia Seizes Part Of Nickel Site Over Forest Violations [Barron's]Barrons