Woodoona Project (Revoked)

The Woodoona Project (Revoked) was a plantation forestry project located at the "Woodoona" property, approximately 33 kilometers north of Bathurst in the Central Tablelands of New South Wales. Registered in May 2025 and covering a significant area of 1,014 hectares, the project was proposed by Valley River Holdings Pty Ltd, a subsidiary of Hancock Prospecting. However, the project was short-lived; it was voluntarily revoked under Section 30 of the CFI Rule in October 2025, just five months after registration.

The project operated under the Carbon Credits (Carbon Farming Initiative, Plantation Forestry) Methodology Determination 2022. This methodology credits carbon abatement achieved by establishing new plantation forests or converting short-rotation plantations to long-rotation ones. For a new establishment project like this, the activities typically involve planting commercial timber species at high stocking densities on land that has been clear of forest for at least seven years, sequestering carbon in the growing trees and long-term wood products.

Environmentally, the Bathurst region is characterized by a temperate climate with cool winters and mild summers. The property itself sits at an elevation of 900m to 1000m and receives an average annual rainfall of approximately 800mm, supporting productive pasture growth. The landscape is described as gently undulating grazing country with arable soils, historically used for running Merino ewes and cattle before the carbon project was initiated.

An interesting note regarding this project is the high-profile nature of its proponent. Valley River Holdings Pty Ltd is an entity associated with Gina Rinehart's agricultural portfolio. The "Woodoona" property was sold in April 2024 for over $10 million shortly before the project's registration, suggesting the carbon project was part of a new management strategy that was subsequently reconsidered.