Rinehart expands cattle empire, begins shipping to beef to China
BILLIONAIRE Gina Rinehart's beef interests are booming, with her Hancock Prospecting buying a third pastoral holding in NSW, taking her herd of full-blood wagyu cattle to 8000.
This week, Hancock will also send its first beef shipment to China under its new Australian wagyu brand, 2GR.
The beef, predominantly from NSW, is being processed and boxed in Warwick, Queensland, where the brand will be formally launched.
Mrs Rinehart's new NSW property, Hiddendale, follows the acquisition of nearby properties Caigan and Glencoe, near Dubbo, in 2014-15.
She now owns what may be the largest Australian wagyu operation.
NSW Planning Minister Anthony Roberts said: "This investment not only further highlights the quality of the state's cattle industry, it will lead to increased jobs, prosperity and opportunities for the people of western NSW into the future."
Further underlining China's soaring demand for quality beef imports, Australia's first shipment of live cattle to China left Portland, in western Victoria, at the weekend.