A mining company is being asked to pay compensation if its operations affect fishing off the Taranaki coastline.
The body holding the fishing quota for iwi - Te Ohu Kaimoana - says the firm bidding to extract iron sand deposits should pay a bond up-front.
Trans-Tasman Resources wants to take iron ore from the sea off Patea.
In seeking a compensation fund, Te Ohu Kaimoana, argues fishing is a property right for iwi, and the Crown has an obligation under the Treaty of Waitangi to protect those rights.
The Environmental Protection Authority is due to make a decision on the iron sand mining proposal in June.
Trans-Tasman Resources said it was confident it will get the go-ahead.