Gina Rinehart has sold three more properties after Hancock Agriculture put seven stations and a feedlot on the market early last year.
Hancock Agriculture and S Kidman and Co have entered into contracts to sell Innamincka Station and Macumba Station in South Australia as well as the 20,000-head feedlot Phoenix Farm in the Northern Territory to Crown Point Pastoral.
Crown Point Pastoral is a joint venture between the Oldfield and Costello families.
The two stations made up some of the S Kidman and Co land Ms Rinehart bought in a joint venture in 2016.
Ms Rinehart originally offered almost two million hectares of cattle country for sale in early 2021.
Innamincka (1,360,000ha) and Macumba (1,106,300ha) stations were not initially included in the sale, but Elders executive general manager of real estate Tom Russo said there was significant interest in the properties.
"Genuinely at the start [Innamincka and Macumba] were not on the market and it almost happened organically through the process; we were speaking to dozens and dozens of interested buyers in the Hancock portfolio and as quite often happens a number expressed interest in properties outside the portfolio," Mr Russo said.
The sale leaves just Tungali feedlot and the head office in Adelaide left of the S Kidman and Co assets in South Australia.
The sale would occur once approval from the relevant pastoral land regulator in South Australia was received, Mr Russo said.
In total, 3,787,519 hectares would change hands — roughly the area of Bhutan.
The sale of the properties was structured in a way to allow all categories of buyers to participate, Mr Russo said.
"We could have gone down a process of just offering the assets in one line, which probably would have ruled out a lot of local operators and would have really played into the hands of multinational fund managers and so on.
"As it panned out, it was really wonderful to see local industry operators really step up and expand their enterprises and acquire the assets."
Ruby Plains and Sturt Creek stations (796,134ha) in Western Australia were also bought by Crown Point Pastoral, while Nerrima Station (203,142ha) also in WA has been sold to the Emmanuel family.
It was announced in December that Aroona Station in the NT had been bought by the DiGiorgio family, who have wine and grazing businesses in south-east SA, while Willeroo Station (171,000ha) was sold to NT-based company Brett Cattle.
The purchase prices have not been disclosed.
Hancock Agriculture remains one of the largest beef producers in the country and has purchased another property in Queensland.
Elders said in a statement several other opportunities were being actively considered.
Hancock Agriculture's Riveren and Inverway stations remain on the market.
