Monday, August 22, 2016

Keeping ranches in the family

“Ranches have a long tenure. Family ranches want to stay in the family,” said Paul Bottari of Bottari Realty Inc. in Wells. Still, families face struggles to keep ranching. “You are not going to get rich quick,” said Sam Mori of Mori Ranch in the Tuscarora area north of Elko. Clay Nannini, who has the listing for the Winecup Gamble Ranch for Coldwell Banker Algerio/Q Realty in Elko, said family ranches need to grow by acquiring neighboring ranches in order to survive as they pass from one generation to another. “It’s really difficult and rare to see ranches continue beyond three generations,” he said. As families grow, they need more land to support more family members or the surviving family member who wants to keep ranching has to buy out other heirs, and sometimes can’t make the payments, Nannini said. Jan Petersen, a local historian, said she knows of ranches where one of several children stays on the ranch “basically for room and board,” and when the parents die, “the one who stayed with heart strings tied to the ranch has no money to buy the ranch” from siblings so the family is forced to sell. Estate taxes also come into play when families try to hold onto a ranch, she said. Such ranches may be sold to neighboring ranchers or investors, which in northeastern Nevada may include gold producers. “The reality is working ranches can’t compete with other interests and outside money,” said Bottari, who also operates a small ranch. Mining companies acquire ranches for mitigation purposes, water rights, access to mineral resources and for exploration, Jeff White, director of rangelands and vice president of Newmont Mining Corp.’s Elko Land and Livestock Co. told the Elko Daily Free Press for the summer Mining Quarterly. Newmont owns the TS Ranch, the Horseshoe Ranch, IL Ranch and Big Springs Ranch. The company acquired Big Springs Ranch in Elko County as part of its Long Canyon mining project. Barrick Gold Corp. currently owns the Squaw Valley Ranch, the 7H Ranch, Dean Ranch, Hay Ranch and JD Ranch in northeastern Nevada, according to Jorge Esteva, communications director for Barrick Gold of North America. “Mining is a big part of Elko County but ranches are still a large part, and the ranches will be here when mining stops,” said Allie Bear, whose realty company specializes in ranches. Mori Ranch has a grazing partnership with Newmont’s IL Ranch in northern Elko County, Mori said...more

1 comment:

montosacanyonranch said...

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