Mining billionaire Gina Rinehart has added another property to her growing stable of farms, buying the Aroona pastoral property in the Northern Territory for an undisclosed sum.
Aroona, approximately 100 kilometres west of Katherine, spans 147,510 hectares with around 15,000 head of cattle. It’s Hancock Prospecting Group’s four NT cattle station after she bought three others last year, including Riveren and Inverway, spanning 550,000 hectares with 40,000 head.
Last December, Australian Outback Beef, Rinehart’s 67%-owned joint venture Shanghai CRED Real Estate Stock Co. paid $386.5 million for a large share of the nation’s biggest pastoral holding, the S. Kidman & Co cattle empire.
The deal gave her 10 stations, spanning 80,000sq km, plus a stud farm and feedlot. She is now Australia’s largest private landholder.
She is now one of Australia’s top three cattle producers, with holdings in four states and the Northern Territory across 22 properties with around 300,000 head.
Owners John and Kate McLoughlin ran Aroona for 11 years and said they were “very pleased” Gina Rinehart has bought the station.
The Station is believed to have sold for around $13.5 million, excluding plant and livestock, more than double the $6.4 million the McLoughlin paid in 2006.
Rinehart said in a statement that the acquisition complemented the group’s existing properties in the region.
“It is near to the Phoenix Park export depot and it will assist part of the wet season growing program for Riveren and Inverway as well as help to provide better market timing options for some of Hancock Beef’s Kimberley cattle stations,” he said.
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