Gina Rinehart buys Glencoe Station

Australia's richest person, mining magnate Gina Rinehart, has bought Glencoe Station in NSW's Dubbo district, according to The Land.

It is for her expanding Wagyu beef operation.  

The 10,000-hectare property purchase was from the former Meat and Livestock Corporation chairman Dick Austen.

The property's Hartley Grazing Company listed 1000 angus cows for sale in Fairfax's The Land newspaper heightening bush rumours that Mrs Rinehart's intention is seemingly to replace the angus with the Wagyu breed.

Glencoe Station was bought off-market deal through Colliers International agent Richard Royle.

Her plans to buy four cattle holdings in Western Australia fell through after a breakdown in negotiations earlier this year, but she purchased the Kimberley region Fossil Downs cattle station in a sale worth about $30 million.