The purchase included 29,000 hectares of bushland but the price was based on the plantable area. The deal also included certain carbon sequestration rights.
The plan now boosts Great Southern’s total plantable area to more than 100,000 hectares in Western Australia, Victoria, and Queensland.
Great Southern says that harvesting from the existing plantations will commence later this year, with woodchips being exported to Japan for use in paper production.
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