The Morrison Government is announcing $11 million support to the CopperString 2.0 project to help progress the project to Final Investment Decision in 2021.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Speaking after his visit to Cloncurry on Tuesday, Prime Minister Scott Morrison said this support will help deliver this important energy project for Queensland.
"Our support for CopperString is an investment in the future of Queensland that will bring power prices down, create 750 direct construction jobs and unlock the significant economic potential of the North West Minerals Province," Mr Morrison said.
"Access to affordable and reliable energy supply will help drive new investment and new opportunities, providing a long-term future for families, businesses and local communities from Townsville to Mount Isa".
Minister for Energy and Emissions Reduction Angus Taylor said connecting north Queensland with the National Electricity Market will help deliver lower cost, reliable power to our important job-creating and export oriented regional industries and increase opportunities for the many other energy projects along the corridor.
Minister for Resources, Water and Northern Australia Keith Pitt, who accompanied Mr Morrison to North West Queensland said continued support for this project was a key part of the Government's broader commitment to central and north Queensland.
"Queensland's mining sector is a significant driver of Australia's economic success story, and cheaper, more reliable power in the north will continue to support this important industry," Mr Pitt said.
"Affordable reliable electricity is essential in driving downstream manufacturing and creating more local jobs.
"This will help open up new investment and create new, high-paying jobs for the people of Queensland."
Federal Member for Kennedy Bob Katter welcomed the announcement saying an enormous amount of work had gone into the project behind the scenes.
"The north-west minerals province brings in over $600 million a year into the Australian economy with the production of copper, silver, lead, zinc and gold but due to the current supply being gas, we are paying an exorbitant price for electricity, and are now seeing the collapse of the mid-west," Mr Katter said.
"CopperString has been put through the ringer first with the Rudd/Swan government throwing a $320 million grant to get the west connected to the national grid, then the Government was rolled before they could get it up.
"For whatever reason, the Mount Isa Mine knocked back the opportunity when it presented itself during the Abbott/Hockey government and as a result have continued to pay up to $17 a unit for electricity.
"CopperString is now a matter of life and death for Mount Isa. The biggest fertiliser plant in Australia relies on the copper refinery but copper is very deep and is extremely marginal. If CopperString doesn't happen, say goodbye to the fertiliser plant and the copper refinery."
Mr Katter said the best site in Australia for wind was on that CopperString line.
"Twiggy (Forrest) has bought the Wind Farm at Hughenden which will generate $1000MW electricity almost base load. Right on Copperstring's line," he said.
"It's not just about Mount Isa mines and all the other mines there. Also along that route is Australia's shale oil, arguably our biggest shale oil deposits out at Julia Creek. The Hughenden Irrigation project, the first in Australia in nearly 40 years, is underway as we speak.
"So CopperString is key to a whole lot of massive industry but unless this is built and built quick, we will see the north west minerals province collapse."
READ ALSO: Popular Mount Isa teacher passes away
While you are here, subscribe to our weekly email delivered to your inbox every Tuesday and Friday.