timbercorp primary infrastructure fund, page-17

IN the game of agricultural production the only way to guarantee you have 'permanent' water rights is through geographical monopolies. Where AAC properties are located there is NO competition since catchments have limited urban populations downstream (ie for the majority of their northern properties). TIM's almond interests are in the Murray catchment as I understand, in which case there is no such thing as 'permanent' water rights! Cities always take precedence.