Resources and publications

This paper examines the potential for native title organisations with limited asset bases to engage in successful commercial activity through joint venture enterprises. 

Firstly, we describe the development of the Federation of Victorian Traditional Owner Corporations as a state ‘peak-body’ of local native title organisations. We then discuss the Federation’s program of economic and commercial development both for its members and as an entity in itself, including the establishment of its incorporated joint ventures; Barpa Constructions Pty Ltd and On Country Heritage and Consulting Pty Ltd and commentary on the significance of the Commonwealth’s Indigenous Procurement Policy as a factor in this process.

The final section of the paper draws upon the experience of the Federation to examine how the legitimacy bestowed by the community ownership of native title organisations’ businesses creates a market advantage which is attractive to joint venture partners and can more than offset and deficit in terms of monetary resources available for investment in a newly established enterprise.

The paper concludes by reflecting that the market advantage bestowed by community ownership may well be a product of the racism inherent in Australian society’s hostility to wealthy Indigenous individuals.

A number of native title groups have seeded their own Future Funds and are growing an asset base to meet the needs of future generations. We will discuss the governance policies, investment strategies and transparent reporting structures of Future Funds, including their ability to take a long term view of investments and ride out world economic cycles.

In Griffiths v Northern Territory of Australia (Timber Creek Decision) the Federal Court ordered that the Northern Territory Government pay $3.3M including $1,488,261 for interest, to the Traditional Owners as compensation. The court considered that ‘the appropriate interest calculation is simple interest’ as there was insufficient commercial activity to justify compounding returns. 

In this presentation we will explore how investing a portion of available funds in a Future Fund may influence the courts to apply compound interest. Economic modelling will demonstrate that with a Future Fund the settlement amount could’ve been entirely different.