WHEN Michael Ball and his business partner sold their beef cattle property in NSW's southern highlands, they never suspected they were selling to a South Korean steel giant.
The company that bought the farm last week has directors who work at law firm Blake Dawson, one of them Ian Williams, a partner in the firm and former rugby international.
The buyers even enquired about the agricultural potential of "Wongonbra", a 425ha spread at Sutton Forest that counts Nicole Kidman and Keith Urban as neighbours.
But after settlement Mr Ball discovered that Williams and fellow Blakes partner Cameron Thomson were acting on behalf of a coal firm more than 70 per cent owned by South Korea's POSCO. "Arguably, they did not want it known they had anything to do with coal interests," Mr Ball told The Australian.
The firm that bought the farm was registered less than two months ago as Aurelius Rural, which has also bought a property of about 90ha. The properties were bought in a trust and Aurelius Rural is the trustee company acting for Hume Coal.
Hume Coal, which has acquired a 115sq km mining lease in the Southern Highlands, is 70 per cent owned by POSCO, with the balance held by junior miner Cockatoo Coal. Cockatoo is part owned by POSCO.
The Australian
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