The webinar called CopperString 2.0: Re-powering Townsville & North West Queensland organised by Townsville Enterprise heard the $1.8b high-powered transmission line linking North West Queensland with the national grid would bring 7500 jobs, generate $6.4b in additional royalties for Queensland and $139 billion in additional Gross Domestic Product in 30 years.

Townsville Enterprise CEO Patricia O'Callaghan said the project had been mooted for 10 years but was finally slated to happen in 2021.

She said the project would unlock enormous value in the North West Minerals Province by access to cheaper energy and would also drive renewables into the energy mix.

CS02 director Joseph O'Brien said while the NWMP has been mining for 100 years, we had barely "scratched the surface" in terms of its potential.

"CopperString is a large transmission network, it is a complex project but a simple proposition, just an extension of the national electricity market," Mr O'Brien said.

"It goes from Townsville to Mount Isa and integrates the NWMP power system."

Mr O'Brien said construction was due to start next year but government support was vital with the state government already backing it to the tune of $14.8 million in May.

"We hope to conclude a very critical agreement with the state government in the coming weeks to ensure we remain on track in this regard," he said.

Mr O'Brien said connecting to the National Electricity Market expected to lower power prices paid by miners and other customers in the North West Minerals Province by at least 40 per cent and competitive energy prices would maximise opportunities to tap into an estimated $680 billion in known resources remaining in the North West.

"Cheaper and more flexible electricity will contribute to lower operating costs, improved project viability and stimulate investment and improved connection and access opportunities to unlock renewables including solar and wind," he said.

Jon Loraine of Neuchatel Consulting said the Mount Isa region was officially 'in the zone' as the Australian Government targets two key mineral-rich corridors to help support the nation's economic recovery. The corridors stretching the length of the nation will be the focus of a $125 million expansion of Geoscience Australia's Exploring for the Future program.

"There is exceptional opportunity for further discovery under cover," Mr Loraine said.

"This is the focus of the Queensland Government's strategic minerals discovery program."

Mr Loraine said the challenge now was to develop the scientific knowledge and the new technologies necessary to increase the chances of finding economic deposits in the 70% of Australia covered by moderate or deep sediment.

"The demand for base and precious metals is increasing rapidly," he said.

"With the growth in renewable energy for example, we'll need more copper in the next 15 years than we've used in all of human history."

He said CopperString supplying grid power to the NWMP would result in a cost reduction from $150-160 to $80-90/MWh and would make projects like Copper Mountain's Little Eva more attractive.

Ross Thompson of Soren Consulting said they reviewed the potential of the region and found 112 Projects with resources with 39 reserves reported, 60 assessed too early in resource definition to include at this stage and 62 operating or assessed as potential to host operations.

Mr Thompson said the total combined historic in-ground mineral inventory exceeding $890 billion (Mined + remaining resource) and despite over 100 years of mining, the remaining mineral resources still have an in situ value of $680 billion.

"The remaining resource base hosts substantial resources of New Economy minerals, including cobalt, copper, gold, graphite, molybdenum, REE's, rhenium, silver, vanadium and zinc.with an estimated current in situ value of $511 billion," Mr Thompson said.

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