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$ 1.3 billion buy out

3 April 2015 – Noongar people surrendered native title rights in a large area spanning from Jurien, north of Perth, to Ravensthorpe, in the Goldfields-Esperance region, in exchange for $1.3bn in land, finance and benefits over 12 years. Annual payments of $50 million (in dexed to inflation) will be made into a Noongar Future Fund over 12 years, as well as $ 10 million/year for a special trust. 320,000 hectares of land will also be handed over to Noongar ownership. More in The Australian, the ABC and The Guardian
Comment by Wake Up Time: This time the land rights have not be converted to money by mining companies, but by the State government. It seems a reasonable way out of a lot of problems caused by the land rights in this part of Australia. A rather cheap deal for the State; it makes one wonder what the ‘real’ value of land rights is, though.

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