Maori Investment Group's Landmark Geothermal Deal

Maori Investment Group Hail’s Landmark Geothermal Deal

ROTORUA, NZ, JUNE 17, 2010

FOMANA CAPITAL will launch their newly rebranded indigenous business magazine, KOHA, tomorrow at Rydges Hotel, Rotorua at 10am.

The launch falls on the eve of the announcement of a landmark geothermal deal worth NZ$200,00 mn. Attending the launch will be the FOMANA Capital’s network of Pounamu Partners whom represent some of New Zealand’s premier Maori investment groups and agribusinesses.

Managing Director, Paul Morgan, said today that the publication was created by FOMANA Capital Ltd in order to make it easier for the world and Maori to do business. It is celebrating the Matariki Maori new year with it’s partners and is using the occasion to congratulate Maori land trust, Kawerau A8D for negotiating a world-class geothermal development project that will provide a substantial equity to land owners as well as seats around the Board Table.

Attending the launch of the new look KOHA magazine will be trust representatives, Colleen Skerrit-White and Tomairangi Fox.

Morgan said that the deal provides the first occasion in which Native Trade protocols have been used. These protocols are based on the UN Declaration of Indigenous Rights. He said they ensure that indigenous human rights are respected as well as environmental, social and cultural values. Morgan also described the deal as a victory for the country’s emerging Maori geothermal sector.

Tomairangi Fox, the Trust Chairman, said that the Kawerau A8D estate located adjacent to Norske Skog Tasman, provides an auspicious site to launch the world’s first Native Trade deal. He said the deal was designed by trustees with native-Hawaiian company, Innovations Development Group.

“Our lands are culturally significant and are home to the sacred maunga, Tirotirowhetu, which is where our revered chieftainess, Hine-te-Ariki, would observe the position of the stars to ascertain important planting and fishing dates for the tribe.”

Skerrit-White, also a Trustee of the estate, was instrumental in working with former UN Permanent Forum member, Mililani Trask and Robbie Cabral who is the Chairperson of Innovations Development Group. Thus far, IDG has invested around US$2m to help the trustees assess the value of their resources giving them more leverage in negotiations.

“We decided that we didn’t want to enter a typical royalty-based agreement that many other Maori landowners are pursuing. The project we are now looking at gives a substantial equity stake and more control over access to our geothermal resources.”

Tomorrow, FOMANA Capital will host one of two workshops being held over the next four days that involve other geothermal players. The aim of the workshop will be to look at how independent Maori media channels can promote positive Maori business stories to the world.

“Matariki is a time to celebrate our uniqueness as Maori and Pacific peoples. Our approach to commerce is one that values our cultural heritage so that when we go offshore, we take the hearts and minds of our people also. Our vision is to see smart world class Maori companies use KOHA to attract international investment partners.”

International guest speaker, Phrang Roy, will be flying to New Zealand from Rome and will attend the event. The representative of the Indigenous Partnership on Agrobiodiversity and Food Sovereignty hopes to connect with Maori agribusinesses involved in organic and low carbon emitting food and beverage production.

“KOHA is slowly building itself to become an independent media outlet that is able to facilitate global opportunities for Maori businesses. We are looking forward to promoting Native Trade as a vehicle to ensure that as indigenous peoples, we always respect our cultures and values first when engaging in commercial activity,” said Editor Mere Takoko.

Ms Takoko also said the launch will also announce KOHA’s new Pounamu Partners for the Matariki year. They are:

Te Arawa (Federation of Maori Authorities)
Te Waka Kai Ora (Maori Organics Authority)
Taupo Moana Group (Maori Investment Service Provider)
Innovations Development Group (Native Hawaiian Investment Specialists)
Investment New Zealand (Government’s Premier Investment Authority)
IWIsaver (National Provider of Maori owned KiwiSaver scheme)
BioFarm Organics Ltd (NZ’s Premier Maori organics business)
Greenpeace (New Zealand’s Premier environmental agency)

The KOHA team will be attending the NZ Maori’s Centennial Luncheon and hope to support Maori rugby’s development. The latest magazine cover features NZ Maori star player Hosea Gear and includes an eclectic ensemble of stories. Standouts include an interview with Prime Minister of Cook Islands, Jim Marurai, who talks about his plans for economic and political reform. The magazine also examines the future of the Waitangi Tribunal and considers whether it’s still relevant. Celebrity chef, Charles Royal, also talks about his plans to take the Maori market to China.

For more information visit www.koha.biz

ENDS

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