Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Taranaki iwi Ngaruahine settles Treaty claims for $67.5mln

Taranaki iwi Ngaruahine settles Treaty claims with Crown for $67.5 million

By Suze Metherell

Aug. 1 (BusinessDesk) - Taranaki iwi Ngaruahine has reached a $67.5 million settlement with the Crown for its Treaty of Waitangi claims.

The settlement includes a $13.5 million payment the government made in June 2013, as well as land in the Taranaki region. The settlement also includes four culturally significant sites, the Waipakari Reserve, Te Kohinga Reserve, Te Ngutu o te Manu and Te Poho o Taranaki.

"Ngaruahine has waited a long time to reach this day," Chris Finlayson, Minister for Treaty Negotiations, said in a statement. "No settlement can fully compenstate for the wrongs of the past, but this settlement will enable the people of Ngaruahine to move forward and focus on developing a strong cultural and economic future in the region."

The deed of settlement also details the iwi's 1999 claim over petroleum resources in the area, which included the offshore Kupe field and the onshore Kapuni field. The Waitangi Tribunal's 2003 'Petroleum Report' found that to exclude petroleum assets from settlements would further breach the treaty and recommended that the Crown withhold the Kupe petroleum mining licence from sale until Maori interests were resolved. The Labour-led Helen Clark government ignored this advice in November 2003, transferring the Crown's 11 percent royalties from the Kupe field to Genesis Energy.

The National-led government missed its self-imposed 2014 deadline to settle all treaty claims, extending the deadline to 2017 last December. According to the Office of Treaty Settlement's website, updated June 18, six different claimant groups have signed terms of negotiation with the Crown, 13 groups have an agreement in principle,16 have signed or have a draft deed of settlement, while 52 groups have completed settlements, since Waitomo in 1990.

Northland's Ngapuhi, made up of some 125,000 people and New Zealand's largest tribe, is yet to reach a settlement, though media reports earlier this year put the figure at $500 million.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO:

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO: