Uranium may force ethical funds to sell out of BHP
Ethical investments funds may have to sell any holdings in BHP Billiton in light of the expected takeover by BHP of WMC Resources, the operator a uranium mine at Olympic Dam in South Australia. Most ethical funds adopt policies that would exclude investment any uranium mining company. Ethical investment funds own an estimated $100 million in BHP stock. One fund manager, BT, has commissioned an independent study into uranium and the sustainability of nuclear energy to guide its investment decisions. “We wanted to make sure we had the latest thinking on uranium,” BT said.