Proponents of proposed CopperString 2.0 say the need for their high voltage transmission line to provide cheaper power to North West mining and minerals processing businesses has never been clearer.
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Speaking after Stanwell announced Mount Isa's gas-fired Mica Creek Power Station would be placed into cold storage in 2021, founder and executive chair of CopperString 2.0 John O'Brien said the North West Minerals Province need CopperString's common use energy infrastructure and more affordable power more than ever.
"Competitive and flexible power supply looks further away for one of the worlds' most valuable minerals regions which is now faced with an extremely limited power supply controlled by one supplier," Mr O'Brien said.
"The incentive to keep prices low has disappeared and the available capacity in the North West Minerals Province is decreasing.
He was referring to APA, owners of Diamantina Power Station which will be the only power station in operation in the North West after January 1.
The CopperString proposal is for a $1.5 billion tranmission line to link the North West to the National Electricity Market near Townsville and is now at expressions of interest for construction.
Mr O'Brien said electricity costs were severely constraining additional investment in the NWMP and risking employment right across the Townsville to Mount Isa region.
He said an independent study has validated the significant importance of the minerals sector to Northern Queensland's economic future, finding that the total in-ground resources are worth an estimated $680 billion.
"74% of the $680 billion of known resources in the North West are "new economy" minerals required for new technology applications, electric vehicles, phones, laptops, large scale battery storage and rapid rollout of a carbon reduced energy future and the only way we can deliver this much-needed boost to the Queensland economy is if we finally provide the minerals sector access to our national grid via CopperString," he said.
"The Townsville to Mount Isa industrial sector is a critical strategic and economic supply chain which, now more than ever, needs to be sustained and grown through major common use infrastructure that clearly reduces costs, supports jobs and improves global competitiveness."
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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.
