Allambie and Chrome Park 2024 (Revoked)

Allambie and Chrome Park 2024 (Revoked) was a plantation forestry project comprising two distinct property aggregations: one located at Black Springs, approximately 35km south of Oberon in the Central Tablelands of NSW, and the other at Branxholme, roughly 20km west of Hamilton in Victoria's Western District. Registered in July 2024, the project covered a total of 976.63 hectares. It was voluntarily revoked in October 2025 under Section 30 of the CFI Rule, meaning the proponent chose to withdraw the project, likely to pursue alternative land uses.

The project operated under the Plantation Forestry methodology, which incentivizes the establishment of new plantation forests or the conversion of short-rotation plantations to long-rotation timber. By planting trees for commercial harvest, the project aimed to sequester carbon in the biomass of the forest. The methodology generally requires specific stocking densities and adherence to regional forestry standards.

Both project locations are situated in high-rainfall, prime agricultural zones. The Black Springs area in NSW is characterized by cool temperate conditions, basalt soils, and grey loams, historically utilized for both pine forestry and grazing. Similarly, the Branxholme site in Victoria features fertile volcanic plains and basalt soils, typical of the Western District's high-production grazing land.

A notable aspect of this project is its proponent, Valley River Holdings Pty Ltd, which is a subsidiary of Hancock Prospecting, chaired by Gina Rinehart. Public records indicate that "Chrome Park" and "Allambie" were acquired by Hancock Agriculture interests around 2024 as part of an expansion into high-quality Wagyu beef production. The revocation of the carbon project shortly after registration suggests a strategic pivot where the land's value for cattle backgrounding was prioritized over the establishment of new timber plantations.