The Bylong Quarry in New South Wales’ Hunter Valley has been sold to a private operator after a six-month search, with four lots covering 67ha now back up and running.
The basalt quarry was sold by Savills on behalf of Gayle Dickerson and Stephen Vaughan of KPMG and was said to have “limited competing stock”.
Savills senior executive Selin Ince said the quarry and those like it were integral to NSW’s ongoing infrastructure developments.
“The Federal and State Governments are committed to a variety of regional infrastructure projects, which will continue to drive demand for extractive industry resources such as basalt,” Ince said.
“This was an incredibly competitive campaign as it was the first time the property had been on the market since 2013 and demand was astronomical. Mining is, and will always be, a highly competitive asset class.”
The property listing highlighted the asset’s highly strategic location, as it lies along a principal thoroughfare of regional NSW.
The basalt resource is highly important in the production of roadways, concreting, rail lines and other key infrastructure, ensuring the buyer will be set up to profit from the region’s ongoing growth.