Pathways to Prosperity - Sustainable Economic Development in the Gulf Indigenous Communities
Tracks
Concurrent Room 1
| Thursday, August 6, 2026 |
| 1:35 PM - 1:55 PM |
| Concurrent Room 1 |
Overview
Fred Pascoe, Gulf Regional Economic Aboriginal Trust
Details
1. History of GREAT and its achievements in improving the lives of Indigenous people in the Gulf
2. Two-sided business model for creating social enterprises
3. GREAT is looking for new investment opportunities and partnerships to further its cause
Speaker
Mr Fred Pascoe
Chairman
Gulf Regional Economic Aboriginal Trust
Pathways to Prosperity- Sustainable Economic Development in the Gulf Indigenous Communities
Presentation Overview
The Gulf Regional Economic Aboriginal Trust (GREAT) was established nearly 30 years ago under the Gulf Communities Agreement between Century Mine, the Queensland Government, and Gulf Native Title groups. Its purpose was clear: to manage negotiated funds and invest in business development and Indigenous ownership to build long-term prosperity in the Lower Gulf.
Today, GREAT remains committed to creating self-sufficient, economically sustainable Gulf communities — communities that continue to value and protect traditional culture while building modern economic strength.
Our Board is focused on fostering an enterprise culture that drives economic empowerment. We operate a two-sided business model. One side generates cash flow to build social capital. The other builds social capital through social enterprises that serve our communities.
Our cash flow businesses include the Daintree Discovery Centre, our share portfolio, Century Zinc payments, and new investment opportunities. Our social enterprises include Normanton Foodworks, Doomadgee Roadhouse, and Ancient Journeys Gallery. To date, the trust has amassed $30 million in assets and is debt free. Our existing assets generate an annual income of $1.4 million above the Century Zinc payments.
Despite these achievements, GREAT faces a significant challenge. Mining royalties are set to cease in 2028. If we make no structural changes, projections show that funds could be exhausted within 12 to 16 years. That is not a legacy we can accept.
To secure GREAT for future generations, we must act strategically. This includes strengthening our investment portfolio, acquiring new cash-flow businesses — such as a hotel in Far North Queensland — and expanding diversified revenue streams.
Our responsibility is not just to manage today’s resources, but to create enduring opportunity. GREAT was built on vision and negotiation. Its future will be secured through strategy, courage, and decisive action.
Today, GREAT remains committed to creating self-sufficient, economically sustainable Gulf communities — communities that continue to value and protect traditional culture while building modern economic strength.
Our Board is focused on fostering an enterprise culture that drives economic empowerment. We operate a two-sided business model. One side generates cash flow to build social capital. The other builds social capital through social enterprises that serve our communities.
Our cash flow businesses include the Daintree Discovery Centre, our share portfolio, Century Zinc payments, and new investment opportunities. Our social enterprises include Normanton Foodworks, Doomadgee Roadhouse, and Ancient Journeys Gallery. To date, the trust has amassed $30 million in assets and is debt free. Our existing assets generate an annual income of $1.4 million above the Century Zinc payments.
Despite these achievements, GREAT faces a significant challenge. Mining royalties are set to cease in 2028. If we make no structural changes, projections show that funds could be exhausted within 12 to 16 years. That is not a legacy we can accept.
To secure GREAT for future generations, we must act strategically. This includes strengthening our investment portfolio, acquiring new cash-flow businesses — such as a hotel in Far North Queensland — and expanding diversified revenue streams.
Our responsibility is not just to manage today’s resources, but to create enduring opportunity. GREAT was built on vision and negotiation. Its future will be secured through strategy, courage, and decisive action.
Biography
Fred Pascoe is a Kurtijar traditional owner and Indigenous leader from the Gulf of Carpentaria. He served on the Carpentaria Shire Council for over a decade and was Mayor from 2009 to 2016. As Chairman of the Gulf Regional Economic Aboriginal Trust, he has championed community-led economic development. His work focuses on strengthening Indigenous employment, enterprise growth, and long-term economic self-determination across Gulf communities.
