Perpetual Resources Ltd (ASX:PEC) is hoping to “forge a long and strong working relationship with the Yamatji Nation”, following the Western Australian Government’s formal confirmation of the landmark agreement water agreement with the Yamatji Southern Regional Corporation.
Yamatji and Western Australia’s Water and Aboriginal Affairs ministers released a Media Statement extolling the virtues of the landmark agreement between Perpetual and Yamatji.
"This historic agreement is an important step for Yamatji people as it represents the first water lease in the Yamatji Strategic Aboriginal Water Reserve,” WA Water Minister Dave Kelly said.
"Establishing these reserves can provide Traditional Owners with access to groundwater to facilitate business development and support economic development.
"The agreement confirms the strong working relationship between Perpetual Resources and the Yamatji Southern Regional Corporation, with both parties actively exploring additional economic improvement initiatives."
Economic benefits of agreement
This is the first lease agreement for access to water from the Yamatji Strategic Aboriginal Water Reserve and has been executed between Yamatji and Perpetual.
The agreement provides Perpetual access to a 560,000 kilolitre per annum water allocation from the Yamatji Strategic Aboriginal Water Reserve that will be used for Perpetual’s proposed Beharra Silica Sands project near Dongara.
Not only does this landmark lease agreement create an opportunity for Yamatji to generate economic revenue from the reserve, but it will also support the implementation of its strategic plan and water business through Yamatji Enterprises Limited.
In an historic first, the Yamatji Nation Indigenous Land Use Agreement (2020) provides members of the Yamatji Nation access to and rights to trade the use of 25.8 gigalitres of groundwater under the Yamatji Strategic Aboriginal Water Reserve, across a range of aquifers in the Arrowsmith groundwater area 200 kilometres north of Perth.
The Yamatji Nation will also receive $21.3 million to help develop water resources under the reserve for use or trade.
“It is extremely pleasing to see such strong government recognition of the innovative and landmark nature of our recently announced water access agreement with the Yamatji Nation,” Perpetual managing director Robert Benussi said.
“We hope to forge a long and strong working relationship with the Yamatji Nation and are proud to be part of such a historic first step.”
Achieving maximum benefit
The WA Government has been working with all parties to ensure the Yamatji Nation realises the maximum benefit from the historic Yamatji Nation Agreement.
"This landmark first lease agreement for water access aligns with the State Government's commitments on Closing the Gap, particularly around economic participation," Aboriginal Affairs Minister Stephen Dawson said.
Yamatji Southern Regional Corporation CEO Jamie Strickland was pleased with the progress.
"This agreement is the first of its kind and demonstrates how our Strategic Aboriginal Water Reserve can generate opportunities and economic benefits for the Yamatji Nation,” Strickland said.
"We look forward to working with Perpetual Resources and thank them for recognising our role as a catalyst for a strong and sustainable future for our members as we continue to build our strategy and water business through Yamatji Enterprises.”