Waanyi in $9.8m land sale

A COMPANY representing the Waanyi Aboriginal people has secured a landmark deal to acquire 100 per cent ownership of two large pastoral holdings in northwest Queensland, making good on a native title agreement struck more than 20 years ago.

The holdings are the Lawn Hill and Riversleigh stations, north of Mount Isa, comprising more than 539,000 ha of land and where a profitable Aboriginal-owned cattle business has been established.

The current owner of the Century mine, which originally held a majority interest in the holdings, has announced the execution of an agreement to sell a remaining 49 per cent stake in the Lawn Hill and Riversleigh Pastoral Holding Company.

It has been sold to Waanyi SPC Pty Ltd for $9.8 million.

Waanyi SPC is the corporate representative for the Waanyi people and the owner and manager of the pastoral company. It was formed in 1998 in keeping with the Gulf

Communities Agreement, the native title agreement for Century mine, one of the world’s largest open-cut zinc, lead and silver mines.

New Century managing director Patrick Walta said the sale achieved a long-held aim of the Waanyi people.

“It has been a long-held ambition of the Waanyi people to achieve full ownership of the Lawn Hill and Riversleigh Pastoral Holdings Company, whose properties are of significant cultural value,” Mr Walta said. “New Century is pleased to have helped facilitate this outcome and wishes them success for ongoing operation of the properties.”

The Century mine is surrounded by the Lawn Hill and Riversleigh stations, which were originally acquired by the mine’s owners in 1996.

The Lawn Hill and Riversleigh Pastoral Holding Company was established in 1998.

Shares in the company were allocated to the Waanyi people, via Waanyi SPC, with an initial holding of 49 per cent which was later lifted to 51 per cent through later transfers.