Gina Rinehart buys another northern cattle farm

Gina Rinehart buys another northern cattle farm
Gina Rinehart buys another northern cattle farm

Australia's richest woman, Gina Rinehart, has expanded her cattle business.

She has bought two more cattle properties located south-west of the town of Katherine in the Northern Territory.

They were bought from one of Indonesia's largest importers of cattle, Japfa.

The Rinehart-controlled Hancock Prospecting Pty Ltd made the announcement.

The financial terms of the deal were not disclosed.

"I am very excited about the acquisition of these two cattle properties and to be investing in Australia, particularly in the Northern Territory," Mrs Rinehart said in a statement.

"I am passionate about our agricultural industry and developing northern Australia."

The combined purchase of 550,000 hectares (1.36 million acres) and 40,000 head of cattle marks the latest agricultural acquisition from the mining magnate after Mrs Rinehart bought a West Australian cattle station last year.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

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