RECENT confirmation of the purchase of more Western Victorian farmland by a subsisidiary of Gina Rinehart’s Hancock Prospecting is continuing to raise questions regarding her overall strategy in the district.

Valley River Holdings Pty Ltd, the wholly owned Hancock subsidiary company recently purchased 467.15 hectares in three lots for $9,813,419 ($21,007/hectare or $8,501/acre) on the Lavers Hill to Cobden Road between Kennedy’s Creek and Simpson on the northern approaches to the Otway Ranges.

Readers may recall that the same entity purchased 511 hectares on Chrome Road at Branxholme earlier this year at what appeared to be a full price, above that which district farmers were prepared to pay.

At the time it was mooted that the purchase was connected to oil and gas exploration or extraction in the Otway Basin geological structure which includes both of the purchase areas.

However, since the Branxholme acquisition, there have been rumours that the Chrome Road property is to be established as a plantation for carbon offsets.

If this is true, it will be of concern to district residents since pure carbon offset plantations, once established, do not generate employment or, indeed, physical produce.

They are neither thinned nor felled.

However, on the other hand and across the State, there are reports of a mystery buyer acquiring large tracts of farmland in Gippsland where there are huge proven gas reserves which are readily extractable, with no need for the controversial fracking process.

A local source there (who wished to remain anonymous) told The Spectator that the land had sold for a full price and was allegedly earmarked for trees and had been leased for cattle grazing.