The two-year option allows the company to acquire the land for $300,000 and increases the total land under potential control to 275 hectares at Smith Bay.
KPT owns 86% of the plantation forestry on Kangaroo Island, consisting primarily of bluegum hardwood with the remaining 20% softwood pine.
The company intends to harvest the plantations, using the Timber Creek sawmill on care and maintenance.
KPT also proposed to build a seaport at Smith Bay to ship the harvested timber and submitted its draft environmental impact statement (EIS) in late 2018, for which the public consultation period has now ended.
Proactive caught up with the company in June 2019 for an update.