CopperString founder John O'Brien has welcome the state government declaration of it as a "coordinated project"
John O'Brien said the CopperString 2.0 transmission line, from Townsville to Mount Isa would provide a multi billion dollar boost to the Queensland economy through reductions in electricity costs, a strengthened base-metals mining and minerals-processing sector and unlocked renewable energy
"CopperString 2.0 commends the Queensland Government and the Coordinator General for their expedient assessment of the project, and their recognition of the significant opportunity the Townsville-to-Mount Isa corridor represents for Queensland's future," Mr O'Brien said.
"Our previous Environmental Impact Statement identified an aggregate economic benefit from CopperString of $11.03 billion, with $9.8 billion of that benefit flowing to Northern Queensland."
Mr O'Brien said North West Queensland base metals would be in huge demand for electronics and CopperString would help power a boom.
"We have the best combination of wind and solar in Australia and they will be in huge demand," he said.
"We need the right infrastructure and policy settings and North Queensland should enjoy generations of prosperity."
Mr O'Brien said the designation of a coordinated project was a recognition of how critical CopperString and the Townsville to Mount Isa corridor was to the Queensland economy.
Northern Queensland Sustainable Resources Corridor Regional Reference Group chair Tony McGrady said the declaration would also help facilitate approvals for the project as it undergoes rigorous environmental, social and economic impact assessments.
"By harnessing renewable energy projects across a corridor from Townsville to Mount Isa will power new projects in the North West Minerals Province, deliver greater electricity security for the North and give Townsville a much-needed shot in the arm," Mr McGrady said.
"To unlock these resources, we need to ensure we have the infrastructure to develop and deliver these resources from mine to port. This corridor has and always will be central to Townsville's economic prosperity, and right through to Mount Isa."
In December 2018 the federal government committed $4.7m to the project for accelerated development and pre-construction works.
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