Remote and Indigenous Australian communities could receive equity in the latest mineral developments, which may help create education opportunities, apprenticeships, employment and sustainable economic growth and social wellbeing for Indigenous communities.
Since the landmark apology to the stolen generations last month, the Federal Government is progressing to encourage prospering mining companies to give Indigenous Australians direct ownership in future developments and projects through shareholdings, instead of passive income or handouts.
The proposed move would improve infrastructure and jobs for local Indigenous populations, by encouraging them to take an active part in the country's mining boom and realise their abilities and productivity potential.
Martin Ferguson,Federal Resources Minister said, "It is smart to sit down and say, 'Look, maybe part of the negotiated outcome is a share so you can own it, you are a part owner, therefore you've got a stake in making it work'."
Mr Ferguson pointed out that "in some instances, they are setting up local indigenous companies and doing the mining themselves."
"The Government's focus is on securing sustainable economic opportunities for the indigenous community," said Mr Ferguson, with the Rudd Government intending to overhaul the complex system of native title in an effort to secure better outcomes for indigenous people.
Such changes will hopefully provide for sustainable economic growth, education foundations, apprenticeships, cadetships and employment for Aboriginal-Australians.
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