Transmission line builders Copperstring 2.0 says the new federal two billion dollar critical minerals loans adds momentum for North West Minerals Province development.
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CopperString 2.0 proponents said the new loan program for the development of critical minerals projects was a commitment of confidence in the long-term global demand for critical minerals in the minerals province.
CuString Managing Director Joseph O'Brien said the fund followed the Queensland and Australian Government's support for the 1000-kilometre CopperString 2.0 high-voltage electricity transmission line connecting the North West Minerals Province and the national electricity grid near Townsville.
"The international focus on critical minerals for renewable energy, battery, advanced manufacturing and defence technologies is well-established. The North West Minerals Province in Queensland has rich reserves of what the world needs," Mr O'Brien said.
"The Prime Minister's announcement and the Quad agreement on critical minerals put even more attention on what we have in North West Minerals Province. The problem is what we have remains in the ground and we need to get it out and export it around the world."
Mr O'Brien said the opportunity was enormous.
"Refining these minerals is true value-adding exports that create prosperity for Australia and the big barrier is getting affordable and reliable electricity to power the development of these resources," he said.
"That's what CopperString 2.0 can deliver."
Economic impact forecasts prepared by ACIL Allen show connecting the NWMP to the NEM via CopperString will increase aggregate national real Income by $80 billion over the period to 2050.
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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.
