Chinese billionaire Xingfa Ma has bought two Australian cattle stations, bigger than Bali, for $47 million

Photo: Getty/ Christopher Furlong.

One of China’s richest men Xingfa Ma, who owns Tianma Bearing Group Co, has bought two Australian cattle stations and 40,000 head of cattle for $47 million.

The two properties, located on rich agricultural land in the Northern Territory and Queensland, are together around 7,000 km2 in size — bigger than the island of Bali (5,780 km2).

“Wollogorang is located within one of the country’s most unique and diverse regions, with favourable land and soil types supporting what is already a successful cattle breeding operation,” realtor Geoff Warriner from CBRE Australia said.

“There is scope to expand the current operation, enabling increased pasture utilisation and therefore an increase in carrying capacity.”

This week agricultural minister Barnaby Joyce said the government was looking to sign an agreement with a new live export market soon.

“I don’t want to pre-empt anything,” he said, “but I think I can say that I’m working diligently towards the imminent signing of another agreement.”

His comments follow the news that the Indonesian Government will issue just 50,000 cattle import permits for the third quarter of this year, far less than the 150,000 to 200,000 head that cattle producers had anticipated to import.

Joyce’s comments have reignited industry murmurs that a long-awaited deal with China could be around the corner.

Earlier this week federal treasurer Joe Hockey said there was “great demand” for Australia’s live cattle exports.

Read more here.

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