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


Sealord and iwi join forces to create opportunities

Sealord and iwi join forces to create opportunities for growth in sustainable fisheries

Embargoed until 6pm, 26 March 2019

A collaborative agreement signed today will see Sealord, a major force in New Zealand deep sea fisheries and owned 50% by Māori, work alongside iwi to create growth and value for the business and its shareholders, a fundamental focus of the Māori fisheries settlement.

The agreement entitled Nga Tapuwae o Maui (‘following in the footsteps of Māui’) gives Sealord access to annual catch entitlement (ACE) of 36 iwi groups in a deal set to increase efficiencies and see greater than 80% of profits returned to iwi. The long-term arrangement will provide stability for Sealord operations, having invested heavily in new fishing technologies and modernisation of its fleet.

The agreement will mean about 60% of the iwi quota held in deep-water fisheries (including hoki, orange roughy, jack mackerel and silver warehou), will be caught on Sealord's vessels. It will also provide iwi members opportunities for training and employment, and advance iwi knowledge of, and involvement in, aspects of the fisheries value chain with Sealord.

Mark Ngata, Ngati Porou Seafoods Group CEO, described the signing of the agreement as “a watershed moment” in the history of Māori fisheries.

“This unique partnership very much aligns with the intent of the Māori fisheries settlement, which envisaged Māori working collectively together, large and small, for the benefit of all. This is what our tipuna fought so hard for,” he says.

“The journey towards reaching this signing is the culmination of like-minded people within Māori fisheries, including Sealord, working towards a common goal, which I am very proud to be part of.”

Maru Samuels, General Manager, of the Iwi Collective Partnership said the arrangement provides significant opportunities for Māori.

“This collaboration has only been possible due to the shared values and aspirations of all parties, as well confidence in Sealord as a leader in New Zealand’s deep sea fisheries.”

Sealord Board Chair Whaimutu Dewes (also Chair of Moana New Zealand which jointly owns Sealord), said while Sealord signed a similar agreement with some separate iwi collectives in 2014, this deal is different.

“This is not just about increasing returns – it is a business decision that is founded on tikanga Māori where all parties are taking learnings from earlier arrangements to better manage our fisheries assets. Together, we want to lift our sights higher to ensure fisheries continue to be managed sustainably, using best practice, with improved performance.

“Taku toa he toa takitini; ehara i te toa takitahi. (Our achievements are brought by the effort of many.)”

Te Kupenga spokesperson Tony Magner said the agreement for Te Kupenga and Maniapoto iwi, provides an “ACE plus return”.

"We share a common recognition that quota is taonga that must be protected for future generations and that this can be achieved whilst maximising the income from this valuable asset," he said.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Industry Report: Growing Interactive Sector Wants Screen Grants

Introducing a coordinated plan that invests in emerging talent and allows interactive media to access existing screen industry programmes would create hundreds of hi-tech and creative industry jobs. More>>


Ground Rules: Government Moves To Protect Best Growing Land

“Continuing to grow food in the volumes and quality we have come to expect depends on the availability of land and the quality of the soil. Once productive land is built on, we can’t use it for food production, which is why we need to act now.” More>>


Royal Society: Calls For Overhaul Of Gene-Technology Regulations

An expert panel considering the implications of new technologies that allow much more controlled and precise ‘editing’ of genes, has concluded it’s time for an overhaul of the regulations and that there’s an urgent need for wide discussion and debate about gene editing... More>>


Retail: Card Spending Dips In July

Seasonally-adjusted electronic card spending dipped in July by 0.1 percent after being flat in June, according to Stats NZ. Economists had expected a 0.5 percent lift, according to the median in a Bloomberg poll. More>>


Product Stewardship: Govt Takes More Action To Reduce Waste

The Government is proposing a new way to deal with environmentally harmful products before they become waste, including plastic packing and bottles, as part of a wider plan to reduce the amount of rubbish ending up in landfills. More>>


Earnings Update: Fonterra Sees Up To $675m Loss On Writedowns

“While the Co-op’s FY19 underlying earnings range is within the current guidance of 10-15 cents per share, when you take into consideration these likely write-downs, we expect to make a reported loss of $590-675 million this year, which is a 37 to 42 cent loss per share." More>>