Duxton Farms chosen to develop 24,000ha Wildman Agricultural Precinct
An Australian agribusiness has won the lease to develop a major ‘agriculture hub’ east of Darwin. Find out what’s planned.
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An Australian agribusiness has secured the lease to develop a major mixed agriculture hub east of Darwin.
ASX-listed Duxton Farms has leased the Wildman Agricultural Precinct, a 24,000ha parcel of land 130km east of Darwin.
It is expected the hub will accommodate a variety of agricultural activities, including horticulture, livestock, broadacre cropping, and forestry, with the potential to include high yield crops such as mangoes and melons.
The land is owned by NT Land Corporation (NTLC) and has been earmarked for agricultural development since the 1980s as part of the Territory government’s drive to develop the local agricultural sector.
Wildman is one of three major precincts, along with Larrimah and Keep Plains, which the NTLC opened for expressions of interest in 2020.
Duxton Farms produces grains, oilseeds, fibres and livestock products across 10 owned and leased properties in New South Wales, Victoria and the NT.
The company leased Mountain Valley Station, about 540km southeast of Darwin, in 2023, reportedly to farm cotton.
Duxton Farms told investors Wildman would “become the keystone project of the company’s operating strategy in northern Australia”.
“While the Territory presents its own unique mix of risks which must be carefully managed, the Board of Directors believe the agricultural resources of the region are very attractively priced relative to their productive potential,” it said in an update to the stock exchange.
Board chairman Ed Peter said he was “delighted” Duxton Farms had the opportunity to develop the project.
“We look forward to working with the corporation, the government, and the fantastic people of the Northern Territory to build something truly special in the Top End,” said Mr Peter.
“This is a very unique project that should create substantial long-term value for all of the company’s stakeholders.”
Duxton Farms entered into an initial eight year lease of $328,000 a year, with a possible further four year extension.
It builds on Duxton Farms’ earlier $10.25m purchase of 2,386ha of the Wildman hub mid-last year.
Taken together, the 26,192ha of freehold land will be supported by a 8021 megalitre groundwater license.
Agriculture Minister Gerard Maley said the development marked a significant step in expanding and diversifying the Territory’s agricultural sector, creating new job opportunities and attracting investment.
“We are committed to boosting the economy, and Duxton Farms has committed to investing a substantial amount of capital in the Northern Territory’s agricultural economy over the next eight years, which is fantastic for the NT,” he said.
“Our government is committed to expanding the agricultural sector, creating jobs, and providing opportunities for Territorians. We’ve worked closely with Duxton Farms and the Northern Territory Land Corporation to ensure this project aligns with the Territory’s strategic development goals.”
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Originally published as Duxton Farms chosen to develop 24,000ha Wildman Agricultural Precinct
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