The Noongar Negotiation Team insisted that the proposed Agreement create a Noongar economic base that could deliver governance structures and Noongar controlled economic, social and cultural programs independent of government. That is why the proposed Agreement will deliver $10 million per year (indexed) for the first 12 years for the operation of the Noongar corporations; $50 million per year (indexed) for 12 years to establish a perpetual Noongar Future Fund; $6.5 million to establish offices for the Noongar corporations; and $5.3 million and up to two hectares of land towards establishing a Noongar Cultural centre. This type of settlement was inspired by the successes of other Traditional Owners, such as the Ngai Tahu group in New Zealand (ngaitahuholdings.co.nz/) who turned a $NZ170 million settlement in 1998 into over $NZ1 billion worth of assets by 2013, and the Iñupiat people in North West Alaska who made an Agreement with government to settle a claim to ancestral lands in the 1970s. Their corporation, NANA (nana/), has grown over time and in 2012, it had annual revenues of $US1.8 billion dollars and returned $11.8 million in dividends to the 13,500 Iñupiat people.
Posted on: Wed, 21 Jan 2015 07:22:21 +0000
Trending Topics
Recently Viewed Topics
© 2015