In 2004, the RAC created an investment arm designed to seek business and investment opportunities to enhance long-term economic capacity and prepare for the day when mining royalties are no longer forthcoming.
This arm, Bunuwal Investments, was set up with the aim of creating new avenues to develop projects that generate sustainable post-mining wealth. The RAC invests 40 per cent of its income to build wealth for the organisation and its people.
Malpi Village was the first major investment under the organisation. Housing and accommodation were in short-supply and in high-demand when Rio Tinto Alcan upgraded. Bunuwal Investments built 26 properties on Rirratjingu land near central Nhulunbuy. Completed in 2007, the homes were leased to Northern Territory and Commonwealth Government staff on secure, long term leases. The current leases run until 2020. The company’s investment has been further enhanced by the subdivision of the estate into individual titles.