Gina Rinehart buys Aroona Cattle Station near Katherine

Australia’s richest woman Gina Rinehart has increased her stakeholding in the Northern Territory with the purchase of another cattle station

Australia’s richest woman Gina Rinehart has increased her stakeholding in the Northern Territory with the purchase of another cattle station.

Already the Territory’s largest landholder, Ms Rinehart has purchased Aroona Cattle Station near Katherine for an undisclosed sum.

“Hancock Prospecting Pty Ltd (HPPL) is pleased to confirm the acquisition of the Aroona pastoral property,” Ms Rinehart said yesterday.

Aroona, about 100km west of Katherine, covers an area of 147,510ha holding around 15,000 head of cattle.

A spokesman for Hancock Prospecting said the Aroona investment would complement the commitment of the HPPL group and its chairwoman Ms Rinehart to invest in regional Australia, with a specific focus on Northern Australia.

“This acquisition continues to build on Hancock Prospecting’s long history in Australian agriculture and Australian jobs,” the spokesman said.

Gina Rinehart has expanded her business interests in the Northern Territory. PICTURE: Supplied

Just before Christmas, Hancock Prospecting Group and partner China’s Shanghai CRED Group paid $386.5 million for 10 Kidman stations, spanning 80,000sq km in three states and the Northern Territory, and a bull-breeding stud farm and a feedlot.

Hancock’s cattle interests across Northern Australia put the firm in the nation’s top three beef producers and are believed to make Ms Rinehart the nation’s largest private landholder.

It followed the purchase of three other NT cattle stations last year, part of expanding the business beyond the iron ore sector.

Ms Rinehart said she was interested to secure her last acquisition Aroona because “it will well complement our existing investments in the north”.

“It is near to our main selling centre, the Phoenix Park export depot, and it will assist part of the wet season growing program for Riveren and Inverway,” she said.

“It will also help to provide better market timing options for some of Hancock Beef’s Kimberley cattle stations.”

Vendors John and Kate McLoughlin have owned Aroona for about 11 years.

They said they were very pleased Ms Rinehart had bought the station because they were confident she would take good care of the land and her continuing investment was good news for Aroona and Australian agriculture.