Waikato regional economic profile - Waikato Regional Council

Figure 106: Iwi of the Waikato region 3548.3 Treaty of Waitangi settlementsTreaty settlements between the Crown and iwi establish co-governance of the WaikatoRiver catchment between WRC and the iwi in the catchment. The proposed RegionalPolicy Statement 2010 acknowledges this, with the incorporation of a distinct iwidimension to the document. Of particular note is the inclusion of the Vision andStrategy/Te Ture Whaimana, the key direction-setting document for the protection ofthe Waikato River. These settlements, which focus on cultural redress, have alsoincluded the provision of resources for iwi capacity-building in relation to their cogovernanceand co-management functions.Changes in Māori participation in the economy have also occurred in recent years duein part to the transfer of assets from Treaty settlements. Iwi have employed a numberof corporate structures to undertake economic development activities (such as trustboards, land trusts, companies and joint ventures). For example: The Waikato Raupatu Lands Trust Annual Report for the year ended 31 March2011 states that it holds total assets worth $775 million 355 . Its commercial arm,Tainui Group Holdings Ltd (which undertakes commercial propertydevelopment, among other things), achieved a net profit of $39.9 million on totalassets worth $694 million in the year ended March 2012. 356 In May 2010, Mighty River Power and the Tauhara North No. 2 Trust weregranted resource consent for the construction and operation of a geothermalpower station on the Ngatamariki geothermal steam field. The Tuaropaki Trust is made up of seven Mokai hapū that affiliate to both NgatiTuwharetoa and Ngati Raukawa. Its activities include temperature controlledhorticulture, geothermal power generation, sustainable farming and broadbandinternet. The Trust is also one of the Māori trusts and incorporations that backMiraka Ltd, a new dairy processor.354Waikato Regional Council (2010, p. 27).355Waikato Raupatu Lands Trust (2011, p. 21).356Tainui Group Holdings Ltd (2012, p. 2).Page 110 Doc # 2069885