Troy Setter, Chief Executive of CPC,
Consolidated Pastoral Company (CPC), a leading Australian agribusiness, has announced the sale of a non-core station in their portfolio, Mimong Station, to Baldy Bay Pty Ltd owned by Sterling Buntine.
Mimong Station is located at Kynuna in Queensland’s North West. The station is one of CPC’s smaller stations, covering just under 80,000 hectares with a carrying capacity of 9,000 head of cattle.
The sale includes the land and plant and equipment on the station.
Troy Setter, Chief Executive of CPC, said the acquisition of Mimong Station by Sterling Buntine reflected the quality of the station and its strategic fit with their existing pastoral interests.
“Sterling shares our vision for taking care of the land, the cattle and our teams,” Mr Setter said.
“Following the sale, CPC will still have one of the biggest pastoral holdings in Australia, comprising 3.5 million hectares of land across 11 stations with a carrying capacity of almost 300,000 head of cattle. We continue to be actively engaged with buyers interested in the CPC platform as a whole and in parts.”
“While challenging seasonal conditions in many areas of Australia have been well documented, CPC’s geographically diverse portfolio positions the business well in the current market and season.
“We continue to benefit from strong demand dynamics for beef in Asia and around the globe, our Indonesian supply chain and investments in our properties and genetics.”