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Totaranui Ltd, NZ King Salmon partner Salmon Farm

NEW ZEALAND - An important Agreement was signed today in the Marlborough Sounds between The New Zealand King Salmon Co Ltd and Totaranui Limited, a subsidiary of local iwi, Te Atiawa Manawhenua Ki Te Tau Ihu Trust

Totaranui Ltd, NZ King Salmon partner Salmon Farm - NEW ZEALAND - An important Agreement was signed today in the Marlborough Sounds between The New Zealand King Salmon Co Ltd and Totaranui Limited, a subsidiary of local iwi, Te Atiawa Manawhenua Ki Te Tau Ihu Trust.

This is the first occasion that Maori have entered directly into the management of marine based salmon farming in New Zealand.

The agreement was signed at the location of the jointly owned Clay Point Marine licence in Tory Channel and provides for the development in partnership of the site as a key Salmon farm operation for both parties.

This is an important development for NZ King Salmon, commented Chief Executive, Paul Steere. We have been working closely with the Te Atiawa Trust since the licence was first granted some years ago. In recognising their kaitiakitanga (guardianship) over the area, the licence is jointly held and we have now completed the trial and evaluation work needed to look to commission the site.

The site itself with its fast flowing cool waters provides excellent grow-out conditions to support the growing need for year round salmon supply with very low environmental impact. Yet those same conditions have meant a new approach to mooring and husbandry was required. We are now confident we can invest in this location for optimum salmon performance.

It will not only provide increased flexibility but also add supply for the growth in demand we have been seeing over the last year, particularly for the NZ market and Australia.

The new agreement with Te Atiawas marine operations company, Totaranui Limited, provides for a staged development at Clay Point to ensure the economic and environmental sustainability of this site and then proceed to the joint management of the harvested product.

We believe Totaranui can provide valuable input and resources for this development and the subsequent marketing into new niche opportunities.

We can now proceed to the final submissions to the Marlborough District Council, though we still have to await a promised Government correction to the Aquaculture Law Reform legislation which by a technical oversight impeded use of this licence, said Mr Steere.

Richard Paine, a Director of Totaranui Limited, who has worked closely with NZ King Salmon on this venture noted: Te Atiawa rohe is a rich source of kaimoana which is a significant taonga for the Iwi, in both a customary and commercial sense. Sadly it is not as plentiful as days gone.

This initiative provides the opportunity for valuable new bounty within our rohe and we are pleased to be aligned with a proven performer that shares strong environmental values, brings significant technical expertise of integrated salmon production and can utilise our own resources as a partner.

It is hoped that the first salmon smolt will be introduced from the 2006 brood in November 2006.

Source: NZ King Salmon Co Limited - 17th October 2005

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