Local farmers buy back land owned by Chinese miner Shenhua in NSW

January 11, 2022 01:36 PM AEDT | By Samta

Google News:

Local farmers buy back land owned by Chinese miner Shenhua in NSW — Image source: Fotokostic,Shutterstock

Recent News

Social Impact Investors: How Grady Crosby of Northwestern Mutual Is He...

Better by MTA Highlights Platinum Members Elevating Global Healthcare...

SnapInspect Sets New Standard in Property Inspection Software with AI-...

viaim Offers Prime Day Deals on AI-Powered Recording Tools for Global,...

Highlights

Local Australian farmers have bought back a rich NSW based farmland owned by a Chinese miner Shenhua in NSW food bowl.

NSW government had paid AU$100 million to the Chinese miner to halt its coal mine plans in 2021.

The farmland is being handed back to one corporate body and12 local farming families in an AU$120 million sale.

The local Aussie farmers have repurchased a rich farmland owned by Chinese miner Shenhua in NSW food bowl following a deal signed by the NSW government.

NSW government had paid AU$100 million to the Chinese miner to halt its coal mine plans in 2021. Shenhua had been owning more than 16,000 hectares of land near Gunnedah for last 10 years, now these lands are being handed back to one corporate body and12 local farming families via AU$120 million deal.

The new landowners will utilise the land for crop and cattle production as the land gets back in their hands. Also, the corporate entity involved in the controversial land deal has bought nearly one third of the land with plans to remain anonymous until a Foreign Investment Review Board approval.

Bottomline

As the disputed land has an amazing temperature and now is back in the hands of local Aussie farmers, both summer and winter crops are highly anticipated with an amazing underground water system.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.