Norway could be forced to dump shares in BHP and Glencore - FT

|About: BHP Group (BHP)|By:, SA News Editor

Norway’s $1T sovereign wealth fund could be forced to unload shares in BHP (BHP +0.1%) and Glencore (OTCPK:GLNCY -0.2%) after the government proposed tightening restrictions on coal investments, Financial Times reports.

Under the proposals, which still need to be approved by Norway's parliament, the fund would be forced to sell out of any company that mines more than 20M metric tons or uses 10K MW of coal in power production, which would include BHP and Glencore; the fund is a top 10 shareholder in both miners.

The fund already is banned from investing in companies that derive more than 30% of their revenues or activity from coal but can stay invested if the business has plans to bring it under the threshold.

Subscribe for full text news in your inbox