Midway Tasmania 2024_1

Midway Tasmania 2024_1 is a plantation forestry project located across multiple parcels in Tasmania, situated approximately 22km southeast of Devonport in the state's north, and 20km northwest of Bothwell in the Central Highlands. It was registered in August 2024 and covers a total area of 677.81 hectares.

Plantation forestry projects under the 2022 Carbon Farming Initiative methodology involve establishing new plantation forests, converting short-rotation plantations to long-rotation ones, or avoiding the conversion of existing plantations to non-forested land. Standard requirements mandate that these forested areas must be actively maintained and managed for the commercial harvesting of wood products.

The environmental conditions across the two project regions vary significantly. The northern parcels near Devonport benefit from a high-rainfall climate and feature highly fertile ferrosol (basalt) soils. The regional land use in this northern sector is heavily utilised for intensive cropping, dairy grazing, and commercial forestry. In contrast, the Central Highlands parcels near Bothwell experience moderate to lower rainfall with predominantly podzolic and dolerite-derived clay soils, where regional land use is largely focused on sheep grazing and forestry operations.

This project was developed by Australian Carbon Products Pty Ltd, which operates as a wholly owned subsidiary of Midway Limited (ASX:MWY), one of Australia’s largest woodfibre processors and exporters. The project sequesters carbon through dual activities: establishing a new plantation forest, and maintaining an existing plantation, originally established under a different method, for continued commercial harvesting. An interesting note is that Australian Carbon Products Pty Ltd and its parent company were recently awarded federal funding under the Support Plantation Establishment program, securing a $245,200 grant to assist with the establishment of 122.6 hectares of new softwood plantations in Tasmania.