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Water rights drive value for Queensland cattle station
11 May 2005
A cattle station in western Queensland has a new owner – a coal company. Macarthur Coal bought the Bacchus Downs cattle property to secure its 700 megalitres a year of water rights. US-owned Great Pacific sold the property as part of a withdrawal from ranching in Australia. Macarthur Coal said it will sell Bacchus Downs in about two years once a pipeline was completed to bring water in from the Burdekin Dam.
Financial Review, 11/05/05
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