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After years of watching other people reap the rewards from their whenua, four Hauraki iwi are a step closer to joining the dairy boom.
Ngati Maru, Ngati Tamateraa, Ngati Tara Tokanui and Te Patukirikiri are collectively buying Landcorp’s Pouarua Dairy Complex near Ngatea for $53.5 million.
That’s an advance payment on the tribes’ share of the $100 million Hauraki settlement.
The state owned enterprise will get the money once iwi members ratify the payment and the proposed entity that will be set up to buy and manage the farms.
Copyright © 2013, UMA Broadcasting Ltd
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