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Hancock Agriculture | Statement | Gina buys $28m grain, cotton farm | Media

Hancock Agriculture is committed to supporting its cattle production through the acquisition of high quality broadacre cropping properties with water allocations. Warra Warra is an example of a strong property that will assist in providing a supply of feed for our cattle, especially our 2GR Wagyu properties on the east coast. We look forward to developing this capacity further.
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Gina Rinehart’s Hancock Agriculture buys first grain and cotton farm with $28m deal for Queensland farm

WA mining and cattle magnate Gina RInehart is diversifying her agriculture portfolio into grain and cotton production, starting with the purchase of a rumoured $28 million farm in Queensland. Hancock Agriculture chief executive John McKillop, who joined the group in November, said the business was diversifying its portfolio into cropping with secure water rights as well as higher rainfall, grazing and dryland farming. “As all things undertaken by the chairman, Mrs Rinehart, there is a strong commitment to improvements in the infrastructure and productivity of the assets,” Mr McKillop said.
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Hancock buys into Downs cropping with Warra Warra purchase

GINA Rinehart’s Hancock Agriculture has made what is believed to be its first foray into dedicated cropping country, with the purchase of Warra Warra on Queensland’s Western Downs. The purchase is understood to be a dedicated grain play, not necessarily integrated into the company’s cattle or lotfeeding interests. Industry sources have suggested a price of $27-$28 million.Hancock Agriculture said the rationale for the purchase was to diversify the company’s investment portfolio by securing high-quality farming land and water.
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Hancock Agriculture sells properties to Australian farming families

Gina Rinehart’s agricultural business secured an ‘excellent outcome’ through the sale, which included two properties not part of the original divestment planElders said in a statement that the sale was “consistent with Hancock Agriculture’s strategy of divesting properties where it had already invested to improve them,” with significant investment made to improve the productivity and condition of each station. Capital raised from the sales will be reinvested in Hancock Agriculture’s other agricultural operations. The firm said it had already purchased another property in Queensland with further opportunities under consideration. “The high quality of these properties after investment by Hancock Agriculture and their management under its ownership was evident in the level of interest received and the feedback from multiple parties that visited the properties, praising the status of the properties and the condition of the cattle,” Russo said.
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Katherine’s Phoenix Park gets new owner as a part of Hancock selloff

A Hancock Agriculture spokesperson confirmed that Hancock Agriculture was delighted to have entered into the transactions with experienced Australian producers, stating “this is an excellent outcome which has ensured that the stations will continue to be operated under good, experienced stewardship by quality industry participants who share our dedication to Australian agriculture, and to our culture, that “happy healthy cattle are the best cattle”.
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Gina Rinehart’s Hancock Agriculture has sold several cattle stations across Western Australia and South Australia

Elders said a commitment made at the time to modernise and improve the properties had been realised. “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.
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Three more Hancock stations go under contract

“The high quality of these properties after investment by Hancock Agriculture and their management under its ownership was evident in the level of interest received and the feedback from multiple parties that visited the properties, praising the status of the properties and the condition of the cattle.” “This high level of very positive interest was further reflected in a strong level of offers being received, with the result of several Australian farming families having been successful in acquiring these stations and expanding their enterprises. “It really is exciting to see such a strong level of confidence and willingness to invest in the future of northern Australian beef production from such successful and well credentialled Australian family owned businesses.
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Gina Rinehart’s mammoth property sale across the country

“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.
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