Midway Tasmania 2024_1

Midway Tasmania 2024_1 is a plantation forestry project located across multiple parcels in Tasmania, situated approximately 20km southeast of Devonport in the state's north and 20km north of Ouse in the Central Highlands. It was registered in August 2024 and covers an area of 677.81 hectares.

Plantation forestry projects involve establishing new plantation forests or maintaining existing ones to prevent their conversion to non-forested land. Standard requirements under this methodology include managing the forest for the commercial harvesting of wood products, maintaining specific tree stocking densities, and committing to a permanence period to securely store carbon, which in this case is 25 years.

The northern parcels near Devonport are located in a region known for high rainfall and highly fertile basalt soils (ferrosols). The land use in this area is dominated by intensive cropping, dairy farming, and commercial forestry. In contrast, the southern parcels near Ouse are located in the Central Highlands, an area with moderate rainfall and podzolic soils that is primarily used for sheep and cattle grazing alongside broader forestry operations.

The project sequesters carbon through two main activities: establishing a new plantation and continuing an existing plantation previously managed under another method to prevent it from reverting to non-forested land. Interestingly, the proponent, Australian Carbon Products Pty Ltd, is a wholly-owned subsidiary of Midway Limited (ASX:MWY), which is one of Australia's largest wood fibre processors and exporters. This project setup allows the company to diversify its operations and generate carbon offset revenues alongside its traditional commercial timber harvesting.