Ngati Whakaue and seven other iwi have decided on the ownership of land returned by the Crown as part of the country's biggest treaty settlement.
The Central North Island Iwi (CNI) Collective announced yesterday it had completed its mana whenua process and the ratification of the final allocation agreement.
The process involved iwi deciding together who owned which areas of the 176,000ha of central North Island land, including the majority of Kaingaroa Forest.
CNI Iwi Holdings chairman Matt Te Pou said the process had been a "historical milestone".
"The journey to this moment has been long and not without loss, so while the CNI Iwi Collective looks forward to a prosperous future, we must acknowledge those who are no longer with us yet were instrumental in helping to achieve our aspirations," Mr Te Pou said.
Mr Te Pou said the process of working together over the last six years had made the collective stronger and more unified. The collective consisted of Ngati Whare, Ngati Manawa, Ngati Whakaue, Ngati Rangitihi, Ngati Tuwharetoa, Ngai Tuhoe, Raukawa and the affiliate Iwi of Te Pumautanga o Te Arawa.
A company was formed, CNI Iwi Holdings Ltd, which will hold the rights to manage the land and receive all income generated from it for 35 years after settlement. "We hope it will lead to a deep and lasting partnership which continues to bring benefits to all our members," Mr Te Pou said.
"Nothing like this had been done before. It was a ground-breaking settlement in 2008, with unique structures and ambitious plans put in place. Our framework has allowed us to create a robust foundation on which to grow.
"In particular, the mana whenua process to determine which iwi belongs to which areas of land was unprecedented."
Twenty-three blocks have been vested into the company, but nine blocks, which include the Kaingaroa Forest and about half the settlement lands, were referred to an adjudication panel by agreement of the eight iwi.
"The iwi have all had immense respect for the panel," Mr Te Pou said.
"All iwi members know that the process has been fair. All iwi have had the opportunity to put their korero on the table and be heard, and now the adjudicators have made their decision."
The final allocation agreement for the Central North Island forests land is effective from July 1, 2044. CNI Iwi Holdings Ltd will continue to manage the land and receive and distribute the income among iwi until then.