"SEVERAL" pastoral properties will be divested from mining and agricultural magnate Gina Rinehart's Hancock Agriculture's vast land holding portfolio.
The company confirmed that some of its pastoral investments would be offered for sale after The Australian revealed the decision based on internal documents received.
Hancock Agriculture did not confirm or deny which properties would be offered, but media speculation has suggested it to be Ruby Plains, in the Kimberley and four properties in the Northern Territory, Phoenix Park, Aroona station and Willeroo station, all three near Katherine and Riveren and Inverway, in the Territory's Victoria River district.
Unlike the NT stations that are owned by Hancock Agriculture, Ruby Plains is owned by S. Kidman & Co, which is a joint venture between Shanghai CRED, with Hancock Prospecting being the majority owner (67 per cent Hancock and 33pc Shanghai CRED).
- Ruby Plains is S. Kidman & Co's only property in WA. It spans 480,000 hectares and runs 4000 head of cattle, being mainly Brahman with an infusion of Charbray, Coolibah Composite and Wagyu.
- Phoenix Park is a large scale export pre-feeding depot, located west of Katherine.Hancock Agriculture acquired the property in 2016.
- Aroona station, Katherine, covers 147,510ha and was acquired in 2017.
- Willeroo station, Katherine, measures 171,000ha and was also purchased in 2017.
- Riveren and Inerway, south west of Katherine, encompass 550,000ha and were added to the company's portfolio in 2016.
While Hancock Agriculture declined to answer Farm Weekly's questions, it issued a statement.
"Given inter alia (among other things) 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 Agriculture wrote.
"Under the direction of executive chairwoman Gina Rinehart, Hancock Agriculture has 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.
"Hancock Prospecting is a major contributor to the Australian agriculture industry now and well into the future."
This announcement follows media reports in July that Ms Rinehart's iron ore company Roy Hill has purchased Roy Hill station, in the Pilbara.
However, Hancock Prospecting would not confirm this purchase.
In October 2019, Hancock Agriculture sub-leased its Mulga Downs station, in the Pilbara and about the same time acquired several beef properties in New England, New South Wales.
Hancock Agriculture is the NT's largest landholder and claims to be Australia's second largest beef producer.
The company's portfolio includes 25 properties with a total herd capacity size of more than 340,000 head.
