Wagyu Cattle Project On Track

20151117 Mayor's Breakfast — Dave Davies, from Hancock Prospecting subsidiary Queensland Coal Investments, with South Burnett Mayor Wayne Kratzmann

November 18, 2015

Gina Hancock’s wagyu cattle plans for the South Burnett are pressing ahead, with the first full-blood bulls already grazing on a property outside Kumbia, guests at the Mayor’s Charity Breakfast were told on Tuesday morning.

Dave Davies, who oversees Hancock Prospecting’s interests in Queensland, said these bulls have unique genetics not seen outside Japan, the home of wagyu cattle.

Mr Davies was the special guest speaker at the breakfast, which was held at the Kumbia Hotel.

He summarised the history of the company’s involvement in the South Burnett, from its first plans to create a supply of super premium infant formula for China to the current wagyu venture.

Hancock Prospecting subsidiary Hope Dairies acquired about 3200ha of land stretching from southern Kumbia to Inverlaw and River Road.

“In parallel we had been progressing various studies and efforts and also starting cropping operations,” Mr Davies said.

“However, as the Hope Dairies project progressed its development planning, a number of material and challenging risks to the project came to the fore.

“As a result, the proposed TMR (total mixed ration) infant formula dairy operation was placed on hold and the company has elected instead to pursue a beef operation on the properties acquired to date.”

Mr Davies said Mrs Rinehart and her family had long been involved in agriculture in Western Australia and had been using proceeds from the company’s mining interests to add further to the company’s agricultural profile.

He listed a number of cattle operations that Hancock Prospecting currently owns, including the Green Hills wagyu farm in NSW, one of the largest full-blood herds in Australia.

And just on Monday, Hancock added to its agricultural portfolio by buying the 10,000ha Glencoe Station near Dubbo for $30 million.

Mr Davies detailed the history of the Japanese wagyu breed in Australia and the development of the Green Hills herd.

“The Green Hills bulls are what we will be using to produce our F1 (first cross) wagyus in the South Burnett,” he said.

“Our intent in the South Burnett is to create a breeding operation, selling the cattle at an opportune time into the existing feedlot trade.”

Mr Davies said Hancock have already procured “a fair number of cows” and recently its first Green Hills bulls were delivered.

“Regarding Hancock’splans in the area, Hancock intends to further develop the land acquired to date and to continue building its cow herd,” he said.

All money raised at the Charity Breakfast was donated to the Kumbia Kindergarten.

Related articles