Readers know that I have several articles on the Henbury Carbon Farm venture which failed last year.
Last September I missed this ABC news 3 Sep 2013 – NT Government says Henbury carbon farming was “illegal”
Quote – [The Primary Industry Minister Willem Westra van Holthe told Northern Territory Parliament the project was illegal, because carbon farming is a non-pastoral use.]
There is a Ministerial media release too
Taxpayers of Australia ponied up $9million – to help buy Henbury.
For those not up with every intricacy of downunder politics.
Land in Australia is managed by States and Territories, not the Federal Govt.
The Henbury carbon farming project commenced in the Northern Territory at a time the NT had a Labor Govt – and the Australian Federal Govt was GreenLabor.
The NT election of 25 August 2012 returned a Country Liberal Party Govt which is to the right of Labor.
In early 2013 news emerged that Henbury had failed.
On 7 Sep 2013 Australia voted in a new Federal Liberal-Country Coalition Govt.
I am not trying to imply that the change in the NT Govt caused anything at Henbury.
Despite these changes the mystery of why Henbury failed continues.
What a classic GreenLabor shambles – I wonder what the entire disaster has cost.
Warwick,
try www.abc.net.au/news/2013-08-28/henbury-station-rm-williams-sale-market/4916426
R.M. Williams Agricultural Co Landscape Management, responsible for the Henbury Station project, was the only subsidiary company not to go into receivership.
Carbon credits sold from its natural regeneration were set to make it the world’s largest carbon farm.
It can only be sold because Henbury Station was never transferred from a pastoral lease to a conservation covenant, a requirement of the National Reserve System.
Mr Quinn says a Federal Government agreement still applies to the property, as does a deal with Qantas, which agreed to buy carbon credits generated at the property.
“The contracts and agreements are still on foot,” he said.
Mr Quinn says there’s no requirement for R.M. Williams Agricultural Holdings to repay the initial investment in the purchase of Henbury Station at this stage, but some proceeds from the sale may be returned to the Federal Government. (Presumably by a flock of flying pigs).
So going broke, the management didn’t go ahead with the plan, but still hold out hope (presumably in case some rich Green organisation wants to buy the station).
The Henbury Project business model seems to be carbon credits are more profitable than cattle. Obviously no longer viable after the carbon tax is scrapped.