A Federal agency has put a Pilbara Aboriginal corporation that earns millions of dollars a year in mining royalties from Rio Tinto in the hands of insolvency experts over governance and financial issues.
The Registrar of Indigenous Corporations yesterday placed Yinhawangka Aboriginal Corporation, based in Paraburdoo, into special administration.
The news comes less than a week after a medical centre in Karratha being funded by YAC was forced to close when the corporation defaulted on the buildings mortgage payments.
The 300-member-plus corporation is the registered corporate native title body for the Yinhawangka people, whose land covers almost 12,000sqkm in the central Pilbara.
It derives most of its income from the Rio Tinto royalties, di…
Read the full article at: https://thewest.com.au/business/yinhawangka-aboriginal-corporation-in-hands-of-insolvency-experts-ng-b881202386z