Expensive catch as farmers buy back land from Chinese company Shenhua

Australian farmers buy BACK precious farming land from China – but there was a very expensive catch and it involves YOUR taxes

  •  Chinese state-owned Shenhua Watermark Coal has sold land in north-west NSW
  • A dozen farming families and an agribusiness bought 16,750 hectares of land 
  • CBRE brokered the sale worth $120million after Shenhua withdrew exploration 

A dozen Australian farming families have bought back agricultural land from a Chinese state-owned mining company.

Shenhua Watermark Coal’s 16,570-hectare landholding on the Liverpool Plains, in north-west NSW, has been sold for $120million – 13 years after it bought the land from farmers.

CBRE, who handled the sale, confirmed 12 farming families and one corporation had collectively bought the land near Gunnedah.

The land was put on the market in July after the state…

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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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