Mining magnate and businesswoman Gina Rinehart has achieved her strategy to sell almost two million hectares of land across her Northern Territory (NT) cattle stations for $100 million.

Proceeds from the 555,400ha Riveren and Inverway’s sale to Hughes and Georgina pastoral company will be used to provide further capital to focus on purchasing and improving other properties for its businesses, Ms Rinehart’s company said.

The Riveren and Inverway Stations, in the Victoria River District, were bought by Rinehart from JAPFA Santori—an Indonesian company, in 2016.

Hughes Pastoral Co., headquartered at Tierawoomba at Nebo, west of Mackay, now have broad natural meat groups in the Barkly district, focal and south-western Queensland.

Aside from Riveren and Inverway, other stations that have already been sold by Ms Rinehart in the NT included:

• Pheonix Park, covering 3,443 ha., sold to Crown Point Pastoral owned by Viv Oldfield and Costello families;
• Aroona Station, with 147,510 ha. bought by the DiGiorio family; and the
• Willeroo, covering an area of 171,000 ha. acquired by Brett Cattle Co.

Ms Rinehart still owns a total cattle territory of eight million hectares. Her company, Hancock Agriculture remains one of the largest beef producers in the country.

She has an estimated net worth of US$14.8 billion.

The Hancock Group is focused on putting resources into local rural communities, executing creative cultivating practices and driving product quality and development, the company has said.

Hancock Agriculture intends to keep and grow its remaining operations in the NT, Queensland, South Australia, and New South Wales.

Elders Ltd. agents have been taking care of Ms Rinehart’s move to auction seven enormous sales in Western Australia and the NT, adding up to 1.876 million hectares, for more than a year.

Elders said, “significant investment was made to improve productivity and condition of the stations, including developing and expanding water infrastructure—to improve the properties’ viability to operate during low rainfall period, boost employee safety and cattle management equipment, shading across stock yards and water troughs, which improves animal welfare, and investing in widespread digital UHF systems”.