The ASX-listed agribusiness Duxton Farms has been chosen to develop the Northern Territory’s Wildman Agricultural Precinct, covering nearly 24,000 hectares about 135 kilometres east of Darwin.
Duxton Farms produces cereal crops, cotton, wool and livestock across 10 leased and owned properties in New South Wales, Victoria and the Northern Territory.
The Wildman precinct is the last of three areas flagged for major agricultural development by the NT Land Corporation (NTLC) in 2020, following decisions on the Keep Plains and Larrimah precincts in 2022.
A Duxton Farms investment update said Wildman — covering roughly the area of the Kimberley’s Ord Irrigation Scheme — would “become the keystone project of the company’s operating strategy in northern Australia”.
Duxton is planning to develop broadacre cropping at the Wildman precinct. (Four Corners: Ryan Sheridan)
“This is a very unique project that should create substantial long-term value for all of the company’s stakeholders, and I look forward to being a part of the Northern Territory’s continued development,” Duxton Farms chair Ed Peter said in a statement.
Duxton has also signed contracts with the NT government to buy a 2,400-hectare former cashew farm adjacent to the Wildman precinct for $10.2 million.
The freehold land comes with a licence to extract up to 8,021 megalitres of groundwater per year.
Milestones to be tracked
Duxton Farms will pay a fixed $328,000 annual lease fee for eight years, with the option to purchase the land if certain development milestones are met.
“The milestones require Duxton Farms to develop a specific percentage of [the precinct] to a state that would allow for broadacre cropping,” Duxton’s investment update said.
“Although the long-term objective and an expectation of both the NTLC and Duxton Farms is to develop high-value irrigated cropping and/or horticulture at scale.”
A NTLC spokesperson said it would “monitor progress” to ensure conditions were met and milestones were on track.
“There are provisions within the lease to address any potential breach of compliance, and the land would not be released for purchase without all terms being met,” the spokesperson said.
NT Minister for Agriculture Gerard Maley said Duxton Farms was chosen as the preferred developer based on its track record.
Gerard Maley says Duxton was chosen for its “track record” as an established agribusiness. (ABC News: Peter Garnish)
“I know they have employed some very talented local people to help them with the local industry because we know [farming in the NT] is different to what happens in New South Wales,” Mr Maley said.
“What we want is [Duxton] to develop the land, we don’t want them to sit on it.
“We want them to upgrade it, employ territorians … and show people around Australia that the territory is the sort of place where can do this sort of venture viably.”
Duxton Farms expanded its operations to northern Australia in January 2023, when it secured a lease on Mountain Valley Station in Central Arnhem Land — a property partly owned by the company’s chair.
Former NT Farmers Association chief executive Paul Burke joined the company’s board as an independent non-executive director in September 2023.
