PKKPAC and Fortescue drive new deal on equipment lease

PKKP Aboriginal Corporation RNTBC and Fortescue have entered into an innovative mining fleet hire arrangement to support the miner’s Pilbara operations.

Under their wholly owned company, PKKP Dry Hire Pty Ltd, PKKP have worked with ANZ Bank and Fortescue to finance new mining equipment, including haul trucks and electric excavators, to be leased to Fortescue, creating a long-term revenue stream that supports PKKP people’s social,  cultural and economic aspirations. The arrangement flows from the recent signing of a new native title agreement and the first co-management of mining agreement between the Corporation and Fortescue.

Corporation Chairperson and PKKP Dry Hire Director, Sandra Hayes, said the lease arrangement reflected a focus on active participation and building diverse commercial opportunities and income pathways that provide the Puutu Kunti Kurrama and Pinikura people with lasting employment and meaningful skills development. “We bring a care for and knowledge of Country combined with established project experience that can help companies operating or seeking to work on PKKP lands,” Ms Hayes said.

Terry Drage, Corporation and PKKP Dry Hire Director, said the PKKP has now built a range of capabilities across diverse services beyond equipment hire including mining and civil projects, maintenance, facilities management and zero emission on-site buildings. “Through relationships such as the one with Fortescue we get to learn from each other, that is a true extension of co-management of mining and gives us an active role in what is happening on Country,” Mr Drage said. “We leverage our position as a 100% Indigenous owned Entity to foster meaningful partnerships, champion best practices, and deliver projects that support both community aspirations and commercial outcomes.”

Dr Andrew Forrest AO, Fortescue Chairman and Founder, said the arrangement would create new opportunities for the PKKP to build business capability. “They can participate directly in the success of our operations as they strengthen their people. That is the kind of long-term economic participation that helps communities build their own future,” Dr Forrest said.

ANZ Head of First Nations Strategy, Shelley Cable said the financing arrangement is a significant milestone for the First Nations economy in Australia. The transaction represents one of the largest financing arrangements with a 100 per cent First Nations-owned business in Australia’s history. “This transaction reflects the strength, vision and growing economic contribution of First Nations businesses, and demonstrates what is possible when Traditional Owners, industry and financial institutions work together toward a shared vision,” Ms Cable said.

Picture: Fleet operations at Fortescue’s Eliwana site

PKKPAC Media Contact:
Casey Cahill +61 413 992 195 casey@counselcomms.com.au