$1.5b ‘missing link’ to create 750 jobs, cut power costs
A $1.5 billion “missing link” to Queensland’s power network is getting cash so it can be fast-tracked to create 750 direct construction jobs, the Prime Minister has revealed.
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A $1.5 billion “missing link” to Queensland’s power network is getting cash to fast track it towards going ahead.
The CopperString 2.0 project would link Mount Isa to the national energy grid through a 1100km high-voltage powerline and lower the cost of power paid by miners by at least 40 per cent and unlock solar and wind sources.
It comes as Prime Minister Scott Morrison continues his tour of regional Queensland.
Mr Morrison on Wednesday morning will announce $11 million to help progress the project to its final investment decision in 2021.“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,” he 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”.
Resources and Northern Australia Minister Keith Pitt said cheaper power would help the mining sector which had been a big driver of the economy even during COVID.
“This will help open up new investment and create new, high-paying jobs for the people of Queensland,” he said.
There had been previous funding for the project announced by the Coalition Government of $5.1 million in 2019. The Northern Australia Infrastructure Facility is also investigating whether it will receive a concessional loan.
Previous reports into the project have indicated access to the cut-priced and low-emissions electricity would help miners stake up projects throughout the North Western Minerals Province, which has an estimated $680 billion in untapped resources.
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