RURAL & AGRIBUSINESS

Hancock puts pastoral holdings on the market

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BILLIONAIRE Gina Rinehart’s beef production company Hancock Agriculture is seeking to offload several northern Australia pastoral holdings across its portfolio.

Among assets earmarked for divestment are the 171,000 hectare Willeroo Station, which Hancock acquired for over $33 million in 2017 with 21,000 head of Brahman cattle, and the 147,000 hectare Aroona Station, which it bought that same year with 15,000 head of Brahman cattle.

Also in the region are the 20,000-head Phoenix Park live export depot and holding facility, acquired in 2016, and the 480,000 hectare Ruby Plains in the Kimberley region, which runs about 24,000 head of mainly Brahman cattle. It is owned and operated by S.Kidman & Co, Rinehart’s joint venture with Chinese-backed Shanghai CRED.

Extensive Victoria River District cattle stations Riveren and Inverway, purchased in 2016, are also expected to be put up for sale. They cover 550,000 hectares and have a 40,000 head-strong herd.

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