The concept for the establishment of
Centrecorp arose in the early 1980s.
At the time, the Central
Land Council was considering how to establish an investment
corporation that would allow aboriginal people to participate
commercially in the inevitable resource and tourism development
projects that were just beginning to establish themselves in the
Northern Territory, rather than simply observing this development
take place around them.
Correspondence from the Central Land
Council at the time indicates that the Council felt
“…an important alternative for protecting and
furthering (the Aboriginal people’s) interests would be to develop
some form of company which would build up over time a bank of
assets. Perhaps, after some years the company would be in a position
to generate income which then could be used for social, community or
The same letter provided some
further information about the proposed company:
intention is to create a conservatively managed corporation….The
concern is that many investment structures on behalf of Aboriginal
people have been somewhat speculative and many of them have failed.
It is not anticipated that there will be short term earnings from
the Corporation but rather that over a period of years it will
negotiate its way into various possibilities.”
with its enabling legislation, which precludes Central Land Council
itself from undertaking commercial activities, whilst at the same
time creating an entity with a robust ethic and sound corporate
governance, Central Land Council joined with Central Australian
Aboriginal Congress and Tangentyere Council as joint trustees of a
The Centrecorp Foundation was established on the 1st of July 2009
to continue the benevolent program and is primarily funded by
the Centrecorp Trusts.
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