PHOTO: Mining magnate and businesswoman Gina Rinehart.
Mining magnate Gina Rinehart has sold off nearly four million hectares of land, with several cattle stations across Western Australia and South Australia going to new owners.
The properties, which went for an undisclosed amount, reportedly sold to Australian livestock producers.
Rinehart’s Hancock Agriculture sold off Ruby Plains, Sturt Creek, Aroona, Nerrima and Willeroo, all in Western Australia, as well as the Phoenix Farm processing facility. While in South Australia, the Innamincka and Macumba stations went to new owners who entered into contracts, with Elders handling the sale.
Mining magnate and businesswoman Gina Rinehart.
In total, 3,787,519 hectares will change hands — roughly the area of Bhutan, according to the ABC.
“Significant investment was also made to improve the productivity and condition of the stations, including developing and expanding water infrastructure, which better positions the properties to operate during periods of low rainfall, improved employee safety and cattle handling equipment, shading across stock yards and water troughs, which improves animal welfare, and investing in widespread extensive digital UHF systems,” Elders said, as reported by The Australian.
“The sale of these stations will assist in providing further capital to focus on purchasing and improving other properties for its agricultural operations. Another property in Queensland with water, has already been purchased by Hancock Agriculture and several other opportunities are being actively considered.’’
Gina Rinehart sold off some of her properties.
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