Yawoorroong Aboriginal Corporation (MG Corp)

The Miriuwung Gajerrong Corporation (MG Corporation) is calling for expressions of interest (DOWNLOAD MG FARMLAND EOI on DOCUMENTS PAGE) from businesses interested in partnering with the Corporation to acquire, develop and operate agricultural land entitlements in the Ord expansion project north of Kununurra, Western Australia.

“Under the Ord Final Agreement, MG Corporation has access to a holding of up to 1,000 hectares that can be developed into irrigated farm land”, MG Corporation Chairman, Teddy Carlton said.

“To maximise the potential of this land - both for agricultural development and for the benefit of MG people - we are seeking business partners who have suitable experience in major remote agricultural projects, as well as a commitment to engaging with and developing opportunities for our community”.

The land is available to MG Corporation through a combination of a preferential selection of 5 % of new land released, and options to purchase further parcels of 2.5 % and 5 % of land at market value.

Expressions of interest are sought for each of the following components:

• initial land acquisition,
• subsequent development of the land for irrigated farming, and
• operation of farming enterprises through either farm manager or lessee arrangements.
  

Partnerships may take the form of joint ventures, finance or equity partners for either or all of the three land entitlements, which may be aggregated or separated.
A range of different models for the partnerships will be considered, and depending on the stage of engagement, access to finance and/or equity contributions will be essential.

“Under the terms of this development agreement, MG Corporation intends to be an active joint owner and manager of a farm development company that retains ownership of the land, for the benefit of our people in the medium to long-term,” Mr Carlton said.

“Our goal is to generate an ongoing and sustainable income stream from the farm lands. This supports our vision to create pathways into farming opportunities for our children, and maintain a significant land asset that will provide them with long- term employment opportunities,” he said.

Expressions of Interest close 30 June 2010.

For enquires and a copy of the information pack please contact: The Project Manager – Farmlands on 08 9291 8111 or visit the website at www.mgcorp.com.au