The investment over a five-year period will see UCL set up the Institute for Sustainable Resources in London and the International Energy Policy Institute in Adelaide and fund research into energy solutions for future generations.

UCL has had an Australian campus in Adelaide since 2008, which includes the UCL School of Energy and Resources.

The new centres will conduct research into economic, legal, environmental, technological and cultural issues faced by the resources industry.

Chairs in sustainable global resources and international energy policy will be appointed.

BHP group executive and chief executive of non-ferrous Dr Andrew Mackenzie said the company was committed to education.

“The two new institutes will spur new thinking into the complex issues faced by the growing demand for commodities and provide a new forum for which industry and the research community can collaborate,” he said.

The initiative will be led by Professor Michael Worton, Professor David Price and Professor Stephen Caddick of UCL.