Australian Agricultural Company leases Qld cattle property

Company News

by Rachael Jones

Australian Agricultural Company (ASX:AAC) has entered a 10-year lease of Rewan Station, a cattle property in central Queensland.

They'll be leasing the land from Rural Funds Management as responsible entity for the Rural Funds Group (ASX:RFF).

Pasture production on Rewan benefits from high average annual rainfall. This will boost Australian Agricultural's capacity to background its premium Wagyu herd.

The lease is subject to approval by the Foreign Investment Review Board (FIRB) and a State of Queensland Minister.

Shares in Australian Agricultural Company (ASX:AAC) trading 0.24 per cent higher at $1.04.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.