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DECISION MAKER: Steve Mav was chief executive of Gumala Aboriginal Corporation and its commercial arm, Gumala Enterprises. Photo: Attila Csaszar

Gumala works through ‘issues’ as it struggles with iron ore slump

One of WA’s largest Aboriginal corporations has been sharply divided as it seeks to deal with the impact of plunging iron ore revenue.

Steve Mav was always an unlikely person to be running a large Aboriginal corporation in the Pilbara.

He’s a Tasmanian of Greek extraction, a failed Liberal Party candidate, and as a councillor once voted against flying the Aboriginal flag outside the Glenorchy council offices.

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Comments

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Let's hope this situation highlight so that biggest does not mean its the best. To be the best takes more then spending money on material things,it takes planning and forecasting. Well done Colleen.

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Assets under management or net assets ($m)

16th-CBH Super$231.8m
17th-Clough Superannuation Fund$211.0m
18th-Gumala Aboriginal Corporation$95.4m
19th-3rd Wave Capital$47.5m
20th-Merchant Group$44.9m
49 fund managers ranked by assets under management or net assets

6th-YMAC$21.3m
7th-Karlka Nyiyaparli Aboriginal Corporation$20.3m
8th-Gumala Aboriginal Corporation$18.9m
9th-NAC$16.4m
10th-Ashburton Aboriginal Corporation$15.4m
50 indigenous corporations ranked by total revenue - this year

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