The state government won't commit to a further financial commitment to prop up CopperString 2.0
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Responding to the North West Star after Traeger MP Robbie Katter expressed "growing unease" with the State Government over the project, a government spokesperson referred us to Minister Cameron Dick's response to a KAP parliamentary Question Without Notice a few weeks ago.
"The Premier took us up to Mount Isa (in November) and we announced a further investment of more than a million dollars to support the progression of the CopperString project, and we will continue to work closely with the proponent's team of advisers," Mr Dick said.
"The Queensland government has just received a submission seeking additional funding for the project and that will be considered on its merits."
The Queensland government has a submission seeking additional funding for the project and that will be considered on its merits
- Cameron Dick
Mr Katter said Townsville's economy relied industry in the North West Minerals Province which were suffering high power prices.
"The State Government has indicated its support for CopperString 2.0 and provided financial assistance," Mr Katter said,
"However this falls short of what is required to ensure this vital project goes ahead."
Mr Katter said mining companies who rely on the project to support new investment have told him a $20 million state investment is required immediately.
"Otherwise the project may collapse and this rare opportunity will be lost," he said."This $20 million investment by the government would ensure a $1.5 billion private investment in real infrastructure in North Queensland, it would appear to most that the government should proceed."
Mr Katter said this was an investment in infrastructure construction.
"I have correspondence from a small mining operation in the NWMP that states, with current reserves, they will generate $60m in royalties," he said.
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Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
