Pension funds and institutions are being urged by campaigners to divest from FTSE 100 mining company, Vedanta, as it plans to mine a tribal area of India.
Survival is urging shareholders, including Coutts Bank, Standard Life, Barclays Bank, Abbey National and HSBC, as well as Middlesbrough and Wolverhampton Councils in the UK, to disinvest unless Vedanta abandons its plans.
Judy Saunders, chief investment officer, Wolverhampton Council, said: "I can confirm the West Midlands Pension Fund does have a holding in Vedanta. It is the fund's understanding that the Indian Government has arrangements in place to evaluate the issues and is attempting to balance all interests.
"We are awaiting further information from our governance advisers, PIRC, who are currently trying to establish the details."
Fred Green, head of investments at the Teesside Pension Fund, said: "I can confirm that Middlesborough Council is a shareholder, but that's all we can say at this time."
Vedanta is owned by London-based Indian billionaire Anil Agarwal. Vedanta's subsidiary, Sterlite, is currently awaiting permission from India's Supreme Court to mine bauxite, the raw material for aluminium, from the mountain in eastern India.
Last November, the Norwegian Ministry of Finance excluded the company from the investment portfolio of the Norwegian Government Pension Fund - Global, based on a recommendation from the council on ethics for the fund.
A statement said divestment was now concluded and the fund had sold off shares in Vedanta worth NOK70m (US$13.2m).
Despite requests, Vedanta were unavailable for comment.
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