Article courtesy of News.com.
Mining magnate Gina Rinehart has sold off a staggering amount of land in a recent sale for an undisclosed amount.
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.
According to Farm Weekly, Ms Rinehart bought Phoenix Park from Consolidated Pastoral Company in 2016. The land is a strategically located feeding, depot and farming operation near Katherine in the Northern Territory. The park has the capacity to turn off up to 45,000 head of cattle per annum, according to the publication. But for Mr Rinehart, the sales continue — with two properties still on the market, being Riveren and Inverway stations. Ms Rinehart’s Hancock Agriculture remains one of the largest beef producers in the countr