Santos GLNG liquefaction processing trains on Curtis Island.
Santos GLNG liquefaction processing trains on Curtis Island. Contributed

Pyne has labelled ANU's resources divestment 'bizarre'

FEDERAL Education Minister Christopher Pyne has labelled the Australian National University's (ANU) decision to sell off its shares in seven mining companies as "bizarre".

Earlier this month ANU announced a plan to divest itself of shares in companies like Santos and Iluka Resources after receiving independent advice on social responsibility.

Mr Pyne told the ABC's AM program this morning he lamented the fact he had no power to intervene in the university's decision.

"Sadly, no, the universities govern themselves. But I think to suggest that companies like Santos and Iluka, which are both excellent companies, are somehow not ethical investments is a bizarre decision," he said.

ANU vice-chancellor Ian Young defended the move on the ABC's Radio National, saying the decision had been made in response to a "significant push" from stakeholders demanding investments that were consistent with the ethos of the university.

Read more at ABC News Online