Hancock Prospecting Pty Ltd (“HPPL”) is pleased to announce the acquisition of Riveren and Inverway cattle stations, located south-west of Katherine in the Northern Territory, building on its previous investment in the wider region that includes Fossil Downs, Liveringa and Nerrima. The two new stations cover over 550,000 hectares of land with a combined herd of 40,000 head of cattle.
The stations are situated on the Inverway fertile black plains, productive Wavehill Basalt and Antrim soil types located in the southern parts of the Victoria River district. Rainfall in excess of 650mm per annum makes this another quality investment for HPPL with significant opportunity to expand further.
HPPL was able to move quickly and decisively to acquire these high quality cattle stations after a previously announced transaction with other parties did not proceed. HPPL and Japfa Santori Australia Pty Ltd were able to reach agreement on an expedited process reaching a successful deal without impacting the operations.
Chairman of Hancock Prospecting, Mrs Gina Rinehart commented, “I am very excited about the acquisition of these two cattle properties and to be investing in Australia, particularly in the Northern Territory, a jurisdiction which is supportive of agriculture and other investments.
This acquisition builds on Hancock Prospecting’s proud history in Australian agriculture. I am passionate about our agricultural industry and developing Northern Australia”
Garry Korte, CEO of Hancock Prosecting said that “with Mrs Rinehart’s leadership Hancock continues to make significant investments to grow our beef operations and to build a dynamic diversified agricultural profile in Australia. We plan to invest further to grow our herd numbers on Hancock cattle stations and are just beginning to develop the 2GR beef brand to capture additional value through distribution networks in markets that value our clean green Australian food products.”
