Rine­hart buys more land

Fur­ther 20,000 head of cat­tle for Han­cock

The Western Star - - RURAL WEEKLY -

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.

PHOTO: CON­TRIB­UTED

BUY­ING UP BIG: A map show­ing the prop­er­ties owned by Gina Rine­hart in Aus­tralia.

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