Ngati Porou receive fisheries allocation

31 March 2006

Ngati Porou receive fisheries allocation

Ngati Porou is set to receive $36m in fishing quota, shares and cash as its part of the $750m Maori fisheries settlement. Another $9m in quota is expected by the end of the year.

Te Ohu Kai Moana Trustee Ltd approved Ngati Porou’s Mandated Iwi Organisation (MIO) on Tuesday and the asset transfer is expected to be made today. These assets comprise $22.5m worth of shares in New Zealand’s largest fishing company, Aotearoa Fisheries Ltd, $11m (2700T) in quota shares and $1.9m in cash.

Another 1300T of quota, based on coastline, are expected to be allocated once Rongowhakaata and Te Whanau a Apanui achieve their MIO status later this year. Earlier this month, Te Runanga o Ngati Porou received 92 percent support from a postal ballot to establish Te Runanga o Ngati Porou, in conjunction with the Porou Ariki Trust, as the Mandated Iwi Organisation (MIO) for Ngati Porou, and to adopt the trust deed of Porou Ariki Trust.

The trust deed requires the appointment of seven advisory trustees, nominated by the marae of Ngati Porou to give advice on key strategic matters and to enable greater accountability back to the marae and hapu of the area.

Porou Ariki Trust has established an asset holding company, trading as Ngati Porou Seafoods Ltd, which will hold and manage the fisheries assets. Trust chair Apirana Mahuika is delighted the allocation is going ahead.

“After all these years this is now an opportunity for us to move forward and focus on reaping the benefits for Ngati Porou.” He says the runanga was at the forefront to advocate and protect Ngati Porou fisheries interests and rights since the debate on the Waitangi Fisheries Settlement began in 1989.

This included political lobbying, taking costly legal action to the Privy Council and United Nations to protect the rights and interests of iwi, and maintaining ongoing dialogue with Ngati Porou hapu and marae to ensure they were informed of key fisheries developments.

In 2003, the runanga established Ngati Porou Fisheries Ltd (NPFL). Ngati Porou Seafoods Ltd will take over its functions and continue to manage the quota to maximise returns.

ENDS

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