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Far North iwi Te Rarawa and Ngai Takoto take ownership of the 2480 hectare Sweetwater Farm near Kaitaia today as part of their treaty settlements.
Hemi Toia, the general manager of Te Rarawa Investment Company, says they were taking a long-term view to developing the Sweetwater property and have opted to leave Landcorp in charge of day to day operations.
They have signed a new joint-management and profit-sharing arrangement under which the state owned enterprise will continue to provide farm management expertise, livestock and technology.
Landcorp chair Traci Houpapa says it has an excellent relationship with both iwi which is a model for successful business partnerships with other iwi.
Landcorp has developed three dairy units on Sweetwater running 2800 cows as well as a dairy support unit.
She says as well as being one if its best performing diary operations, Sweetwater offers training and employment opportunities for local Maori.
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