Chinese State-Owned Firm to Sell Off Huge Parcel of Australian Farmland for $120M

Farmers from the Gloucester and Gunnedah regions protest outside the NSW State Parliament, Sydney, Australia on June 4, 2009. AAP Image/Dean Lewins

China’s Shenhua is looking to sell off a huge portfolio of farmland in the Liverpool Plains in regional New South Wales (NSW), just months after the company was paid $100 million (USD75 million) to walk away from a mining lease in the area.

Shenhua Watermark Coal has put the combined 16,570 hectares of land it acquired in Breeza, Barraba, and Tambar Springs on the market for an asking price of $122 million (USD 91 million).