Gina Rinehart gearing up for NT cattle station selldown

NORTHERN Territory cattle baron and Australia’s richest person, Gina Rinehart, is planning to sell down her rural landholding portfolio.

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NORTHERN Territory cattle baron and Australia’s richest person, Gina Rinehart, is planning to sell down her rural landholding portfolio.

In a statement sent to the Sunday Territorian, the company said Hancock Agriculture executive chairman Mrs Rinehart was looking to divest several properties to focus on more agricultural and cattle opportunities.

Among the properties believed to be in line to be divested or sold down in part is the 20,000-head feedlot Phoenix Park near Katherine, purchased four years ago from the Consolidated Pastoral Company.

Other Territory stations in Mrs Rinehart’s Northern Territory rural landholding portfolio include Aroona Station, 90km from Katherine, the nearby Willeroo Station and the iconic Riveren and Inverway stations.

The properties are located southwest of Katherine, covering more than 550,000 hectares of land with a combined herd of 40,000 head of cattle.

Gina Rinehart at Kidman station. Picture: Supplied

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The statement explaining the reason for the divestment plan said Hancock Agriculture had experienced significant growth in recent years.

“Property acquisitions have been followed by significant investment focused on improving cattle herd quality, employee safety and animal welfare, using technology and innovation as a key platform for improvement across the portfolio,” the statement said.

“Given inter alia the significant improvements and value creation that has been achieved from these investments, the company will now look to divest several properties to focus on more agricultural and cattle opportunities.

“Hancock Prospecting is a major contributor to the Australian agriculture industry, now and well into the future.”

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Mrs Rinehart was recently named Australia’s richest person, with an estimated personal wealth of $22.25bn.

She is one of the largest landholders in the country, with the acquisition of S Kidman & Co cattle grazing properties for $386.5m in 2016 among her series of purchases.