26 Sep 2012

New Zealand Greens welcome Super Fund exclusion of Papua mine

3:03 pm on 26 September 2012

Human rights breaches have prompted the New Zealand Superannuation Fund to end its investment in the huge Freeport McMoRan copper and gold mine in Indonesia's Papua region.

The fund has has sold shares worth just over a million US dollars in the Grasberg mine in West Papua, blaming the company's human rights policies and payments to Indonesian security forces.

The New Zealand Green Party co-leader, Russel Norman says that's a very positive development.

"The people of West Papua will, I think, receive the information very gratefully, the fact that the New Zealand government, the New Zealand Super Fund is taking a stand against the terrible practices at this mine. I think it's great news."

Dr Russel Norman says it's great the Super Fund is taking a stronger ethical stance.