Rinehart buys more land
Further 20,000 head of cattle for Hancock
HANCOCK Prospecting Pty Ltd has purchased the Willeroo pastoral property.
Willeroo, located about 100km west of Katherine in the Northern Territory, covers an area of 171,000ha holding about 20,000 head of cattle.
Hancock Prospecting released the following statement this week:
“The Willeroo investment compliments the commitment of the HPPL group and its chairperson Gina Rinehart to invest in regional Australia with a special focus on northern Australia.
“This acquisition continues to build on Hancock Prospecting’s long history in northern Australia, Australian agriculture and Australian jobs.
“The Hancock family are possibly the longest continuous owners of cattle stations in northern Australia, with Mrs Rinehart’s ancestors commencing the first stations in north-west Australia (including Ashburton Downs with the ‘h3b’ brand, Hancock 3 brothers, instituted by their father) in the second half of the 1800s, after members of their family arrived at Cossack, near Roebourne, and established the first port and town at those locations,” the statement read.
Speaking after the transaction, Mrs Rinehart said the company was excited to secure Willeroo.
“We believe we can add improvements and value to the station.
“We will copy what we have introduced successfully on our other Hancock stations and are currently rolling out across Kidman properties also.
“Willeroo will well complement our existing investments in the north.
“It is adjacent to Aroona, which we acquired earlier this year, allowing us to operate the two stations as a combined unit.
“Also being near to the Phoenix park export depot, it will assist part of the wet season growing program for Riveren and Inverway, as well as help to provide better market timing opportunities for some of Hancock Beef’s Kimberley cattle stations.”
David Larkin, chief executive officer of Hancock Agriculture, said with continued investment, and introducing the new technology and cattle welfare
programs trialled successfully at Hancock properties, the beef portfolio would grow, presenting greater tools for management and economies of scale, with an opportunity to increase stock numbers and productivity.
Earlier this year, Hancock Prospecting announced its purchase of Maydan feedlot in
Queensland.
The feedlot, located in Warwick, accommodates both short-term and long-term custom feeding and is licensed to carry 8000 standard cattle units, specialising in providing feeding strategies for premium beef producers.
The feedlot has
demonstrated a consistent ability to produce premium high-grade beef, most recently assisting several of its customers in producing award-winning beef products. Speaking after the transaction, Gina Rinehart said the Maydan acquisition continued the company’s pursuit of integrated investments in the cattle industry focused on optimising the quality of our beef.
“This acquisition secures a key part of the supply chain, producing and then processing export-quality fullblood wagyu to both our Asian neighbours and local markets,” Mrs Rinehart said.