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Robe River Kuruma Aboriginal Corporation (RRKAC) is the registered native title body corporate for the Robe River Kuruma native title determined areas. RRKAC actively reduces its reliance on mining income by diversifying revenue streams and investing in long-term economic initiatives to achieve sustainable financial independence for future generations.
RRKAC’s primary source of funding comes from mining agreements. Mining royalty payments are held and managed by RRKAC’s subsidiary company, Kuruma Marthudunera Limited (KML).
RRKAC and KML work closely together and have a crossover of directors on their boards for consistency across their governance structure. The Chair sits across KML, RRKAC and Robe River Services PTY Ltd (RRS), the subsidiary company and business arm of RRKAC. This facilitates communication among the three different entities, allowing for early risk identification and intervention.
KML identified that a heavy reliance on mining royalty payments posed a significant risk to the corporation’s long-term sustainability. These payments are subject to external market factors, such as fluctuating mineral prices or the closure of mining operations.
The corporation has been successful in obtaining alternative sources of funding such as government grants and expanding cultural heritage services. In addition, the RRK Future Fund was created to manage and invest funds for future generations of RRK People. These resources are governed by an Accumulation Policy which dictates when this funding can be accessed. The intention for this funding is to provide for future generations when revenue generated from mining has ended.3Robe River Kuruma Aboriginal Corporation, Robe River Kuruma Annual Report 2023-2024, [link]
Robe River Services Pty Ltd (RRS) is an entity of Robe River Kuruma Aboriginal Corporation, developed to be a driver of economic opportunities for the Robe River Kuruma People and community.
RRS has a mandate to build an economic base by generating self-determining revenue streams through commercial business, employment, and capacity building opportunities. In addition to identifying emerging commercial opportunities, RRS also help incubate and grow RRK owned businesses, and have also undertaken projects to analyse the business and employment opportunity pipeline with key stakeholders, aligned to a thorough skills audit of the RRK community.
These ongoing initiatives will propel the corporation and its members toward the ultimate goal of achieving sustainable financial independence.4Robe River Kuruma Aboriginal Corporation, Robe River Kuruma Annual Report 2023-2024, [link]
